SRH AlsterResearch AG Update: Wolftank-Adisa Holding AG - Riding the hydrogen wave; PT up; Reiterate to BUY

Wolftank-Adisa AG (Update) Industrial Goods & Services MCap EUR 45m BUY, PT EUR 40.00 (+19% potential) Research_update A spree of good news from Wolftank prompts an upgrade in our PT from EUR 36.00 to EUR 40.00 offering a handsome upside of c. 19%. That said, Wolftank successfully increased its share capital by EUR 4m reinstating solid B/S ratios helping the company to execute on its massive growth trajectory – stemming both from its traditional tank refurbishing business but increasingly also the lucrative hydrogen market. In that respect, the newly announced cooperation with Italian based Snam S.p.A. bodes well for Wolftank’s equity story. We therefore reiterate our BUY recommendation as Wolftank is one of the rare opportunities to ride the hydrogen wave on the German speaking stock exchanges. For 5 current investment ideas, check our Weekly Screener. This week we are looking for companies that have the highest Return on Capital Employed (ROCE) Please note that AlsterResearch publishes MiFID II compliant research only. For a detailed discussion on MiFID II, please visit https://www.research-hub.de