PVA Tepla
Fair Value: 29.5€ – – – – – – Rating: Buy
High order backlog secures 2024 sales
Following the release of preliminaries, we had already updated our scenario and increased our valuation based on strong growth prospects. Additional information from the full publication of results have now only a marginal impact on our estimates. We see a 38% upside from yesterday’s share price and in particular upcoming acquisitions could add to this. Against this background, we reiterate our Buy rating on the stock.