Berenberg raises Neste to 'buy' on faster-than-expected recovery

Neste Oyj

15/12/2025 08:20

** Berenberg raises Neste NESTE.HE to "buy" from "hold", citing an earlier-than-expected recovery of the Finnish fuel maker's margins, helped by improving demand, lower costs

** Neste shares rise about 3%, with YTD gains at about 54%

** While Neste has battled oversupply in renewable fuel, Berenberg expects increased sales with regulations imposing mandatory volumes in the EU and U.S.

** The broker forecasts 12% CAGR in sales volumes over the coming three years, and the sales margin to recover to $575/ton

** It also expects lower capex, improving balance sheet in the coming quarters as Neste's new management continues reducing costs

** The broker ups PT for Neste by 58% to 25 euros

    ** Out of 21 analysts covering Neste, 10 rate it "buy", seven "hold" and four "sell"

(Reporting by Boleslaw Lasocki)

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