Berenberg downgrades Solaria to 'hold' after strong rally

About this update from Solaria Energia Y Medio Ambiente, S.a.

** Bernstein downgrades Spanish renewable firm Solaria BME:SLR 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 BME:IBC ($1 = 0.8675 euros)

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