Berenberg cuts Thyssenkrupp Nucera on US regulatory uncertainty

thyssenkrupp nucera AG & Co KgaA

16/08/2024 06:46

** Berenberg cuts German electrolysis plant supplier
Thyssenkrupp Nucera  NCH2.DE  to "hold" from "buy" as visibility
on U.S. regulations, such as the 45V tax credit, remains low
    ** The broker says it was expecting regulatory progress to
stimulate order intake in H2 2024, but regulatory certainty now
looks unlikely before the November elections, and final
investment decisions are not expected before spring 2025
    ** "The prospect of continued limited order intake until
mid-2025 leaves limited scope for catalysts which can replenish
backlog and underpin confidence in medium-term revenue growth,"
Berenberg adds
    ** Out of 13 analysts that cover Thyssenkrupp Nucera, eight
rate the stock "strong buy" or "buy",​ three "hold" and two​
"strong sell" or "sell" - LSEG​

 (Reporting by Chiara Holzhaeuser)
 ((Chiara.Holzhaeuser@thomsonreuters.com))