Pareto highlights Orron's acquisition fire power, more than doubles TP

Orron Energy AB

13/10/2022 15:02

** Pareto Securities ("buy") reiterates its bullish view on
Swedish renewable energy company Orron Energy  ORRON.ST  and
more than doubles its target price to SEK 31 million from SEK 14
    ** The brokerage applauds the timing and strategic growth
perspective of Orron's recent acquisition of onshore wind farms
operator Slitevind  SLITE.ST 
    ** It says the value enhancing potential from upgrading this
asset is great
    ** The brokerage adds that the group still has an ample
acquisition fire power to take on a target in the same size as
Slitevind
    ** "We would not be surprised to see one or two additional
acquisitions being announced before year-end," Pareto says
    ** Orron Energy share, the brokerage says, is still a
long-term winner, despite short term market volatility
    ** Out of six analysts that cover the stock, two rate it
"strong buy/buy" and ​four rate "hold" 
    ** Orron shares were up 14.5% at 12 GMT
($1 = 11.3346 Swedish crowns)
 (Reporting by Jagoda Darlak)
 ((jagoda.darlak@tr.com))