Deutsche Bank Starts Kenon Holdings (KEN) at Hold
Get Alerts KEN Hot Sheet
Rating Summary:
0 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
Join SI Premium – FREE
Deutsche Bank initiated coverage on Kenon Holdings (NYSE: KEN) with a Hold rating and a price target of $24. Analyst Jonathan Arnold sees Qoros risk/reward as high.
"With an Eddie and Peggy already under coverage, we are initiating on Kenny (NYSE & TASE: KEN), definitely a unique and interesting kind of utility holding company. KEN owns 100% of IC Power, a fast-growing IPP developer with major presences in Peru and Israel, 50% of Qoros, a young Chinese auto manufacturer, 32% of shipping company ZIM, a 22.5% stake in TowerJazz and other interests. The bulk of the value resides in IC Power and we like its two major contracted growth projects, CdÁ and Samay. However, we remain on the sidelines with KEN as continued investment into Qoros, a high-risk/high-reward business, chips away at near-term value and cash flow," said Arnold.
For an analyst ratings summary and ratings history on Kenon Holdings click here. For more ratings news on Kenon Holdings click here.
Shares of Kenon Holdings closed at $21.80 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- TD Cowen Starts Grindr (GRND) at Buy
- Truist Securities Starts Merus N.V. (MRUS) at Buy, 'there is more upside on Peto's 2 clinical catalysts'
- Barclays Starts Elia Group SA (ELI:BB) at Overweight
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, New CoverageRelated Entities
Deutsche BankSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!