Frost & Sullivan Publishes Initiation Coverage Report on Enlight Renewable Energy Ltd.: The company will double its revenues by the next two years; Price target is NIS 2.30
Equity Research is published in the framework of the Tel Aviv Stock Exchange (TASE) Analysis Program
TEL AVIV, Israel — The TASE analysis project was launched in 2016 in order to raise investors’ level of knowledge of TASE-listed technology and life science companies, and the markets in which they operate. This enables the creation of appropriate pricing and increases the exposure of investors from Israel and abroad. The goal of the equity analysis project is to encourage investments in these companies by removing the barrier of a lack of understanding in the market.
In order to maintain professional, independent and unbiased analysis, the companies signed an agreement with the TASE to receive the analysis services for an obligatory period of two years. The companies cannot withdraw from the project during this period. The analysis is funded by the companies surveyed with funding from the Chief Scientist and the TASE.
Summary of Highlights
Frost & Sullivan forecasts that by 2019, Enlight’s project revenues will be NIS 291.7 million (double the 2017 estimated revenues) with 41% of its revenues generated from new wind projects.
Enlight operates on a large scale both locally and globally, having successfully executed over 150 projects in Israel and in Europe at a capacity exceeding 200 MW, encompassing a total construction cost of over $500 million.
The company aims to create value by leveraging its expertise and experience in identifying and quickly evaluating and exploiting market opportunities.
The company’s strategy is to select and operate in markets that demonstrate a combination of factors: a supportive policy and regulations, favourable market conditions, an opportunity to optimise technology and increase installed capacity. In international markets, the company partners with local entities that provide advantages in the initiation and early stage development phases.
Our valuation encompasses 20 current and ongoing projects (totaling 800 MW). Frost & Sullivan evaluates the company’s equity value at NIS 1.07 billion / $ 311 million. This valuation does not include additional, unidentified projects in the company’s pipeline, which may have an additional financial upside. The price target is in the range of NIS 2.17 – NIS 2.45, with a mean of NIS 2.30.
About the company. Enlight Renewable Energy Ltd is an Israeli company founded in 2008 and publicly traded on the Tel Aviv Stock Exchange. The company specialises in the initiation, development, financing, construction, management, and operation of projects involving the generation of electricity from renewable energy sources. It is currently active in the fields of Solar Photovoltaic (PV) and Wind Energies. For more information on this analysis, please click here.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion
Source: Frost & Sullivan
