SFC Energy AG Receives Buy Recommendation from First Berlin Equity Research

First Berlin Equity Research has reiterated its Buy recommendation for SFC Energy AG, with a price target set at 34.00 euros. According to analyst Dr. Karsten von Blumenthal, the company is expected to experience robust sales growth, estimated between 20% and 30% for 2024, thanks in particular to its regional expansion, particularly in North America and Asia. SFC Energy, a market leader in direct methanol fuel cells, reports preliminary 2023 results that exceed prior expectations. Sales rose 39% to €118.1 million, while adjusted EBITDA rose 86% to €15.2 million and adjusted EBIT more than tripled , with a margin of 8.2%.