McPhy Energy: Berenberg expects quiet H2, cuts to "hold"

Mcphy Energy SA

18/06/2021 08:23

** Berenberg downgrades French energy company McPhy Energy
 MCPHY.PA  to "hold" from "buy", expecting limited activity in
the second half of the year
    ** The broker notes that many of the company's projects
depend on being funded by the Important Projects of Common
European Interest programme, with the confirmation of awards now
expected in early 2022
    ** It also says McPhy Energy's near-term guidance
"disappoints" with the company forecasting revenue growth 40%
below consensus
    ** McPhy Energy earlier this month said it expected limited
growth in 2021  urn:newsml:reuters.com:*:nFWN2NX0XZ
    ** According to Refinitiv data, out of 7 analysts, five rate
the stock "strong buy" or "buy, ​two rate "hold" and no analysts
rate the stock "sell"


 ((antonis.pothitos@thomsonreuters.com))