Berenberg downgrades Solaria to 'hold' after strong rally

SOLARIA ENERGIA Y MEDIO AMBIENTE SA

25/11/2025 13:16

** Bernstein downgrades Spanish renewable firm Solaria SLRS.MC to "hold" from "buy", after the company lays out "ambitious targets" at its capital markets day earlier in November

** Berenberg believes the recent rally (up 120% year-to-date) means shares offer less value after a strong performance

** Solaria plans to double its 2025 EBITDA by 2028 but Berengerg's calculations are not so upbeat

** "Delivery on the plan could see material upside emerging; however, the shares are already up by c. 120% YTD – for now, we model a more conservative growth trajectory," the brokerage says

** However, brokerage raises Solaria's PT from 12.5 euros ($14.41) to 19 euros, 14% above its current price

** According to LSEG data, out of 17 analysts that cover Solaria, seven rate the stock "strong buy" or "buy", ​six rate it "hold" and four​ rate it "strong sell" or "sell"

** Shares are down 3.8%, at the bottom of IBEX 35 .IBEX

($1 = 0.8675 euros)

 (Reporting by Javi West Larrañaga)

 ((javier.west@thomsonreuters.com; +34 918 35 61 12))