Jefferies Downgrades Advent Technologies (ADN) to Hold, 'The Inflection Point Depends On EU Bureaucracy'

Jefferies analyst Laurence Alexander downgraded Advent Technologies (NASDAQ: ADN) from Buy to Hold with a price target of $0.60 (from $4.00).

The analyst comments "With Advent's business model inflection tightly linked to near-term clarifications, interpretations and implementations of EU hydrogen policy initiatives, the risk of a timing mismatch, and consequently more equity dilution, remains high. Given the lack of visibility on both near-term policy timing and the eventual project economics, we downgrade Advent to Hold from Buy."

For an analyst ratings summary and ratings history on Advent Technologies click here. For more ratings news on Advent Technologies click here.

Shares of Advent Technologies closed at $0.62 yesterday.

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