![Mytilineos- Pantelakis Securities raises the target price to 22 euros – Recommendation for a strong buy](https://www.ot.gr/wp-content/uploads/2021/06/mytilineos.jpg)
Pantelakis Securities sets a new target price for the share of Mytilineos, seeing opportunities for growth and repositioning of the company.
In a special report issued for the listed company, it revises the target price of the share to 22 euros from 17.4 euros, which was its previous forecast. The new price is 45% higher than the current levels.
Pantelakis Securities estimates that for 2021 the listed company’s EBITDA will close at 300 million euros, while for this year it forecasts a jump in operating profit to 500 million euros and 600 million euros in the coming years.
Sources of profitability during the stock exchange is the operation within the year (second half) of the new power plant with natural gas fuel of 826 MW, in Agios Nikolaos, Boeotia. The authors of the report speak of a direct contribution to profits. They estimate 70 million euros in EBITDA, while they underline the doubling of the thermal power generation to 1.7 GW.
Pantelakis also emphasizes the strong position of Mytilineos in RES through the development of a large portfolio of 1.5 GW photovoltaics, starring in the “green” transition. It sees in 2024 revenues of 190 million euros from this activity of the listed company.
Regarding the production of aluminum, the stock exchange claims that Mytilineos is within the targets for the sale of “green” aluminum, comfortably meeting the requirements of the market.
Finally, the report mentions the opportunities that the infrastructure sector hides through the resources of the Recovery Fund.
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