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June 29th, 2022 | 12:18 CEST

Buy or sell? Nel, Zalando, Aspermont under analyst review

  • Commodities
  • Investments
  • Hydrogen
  • Mining
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After the heavy losses of the past months, a countermovement seems to be starting at the moment. Whether this will turn into a real summer rally remains to be seen. Buy or sell is the question. Analysts see a price potential of over 50% for Nel ASA. Even though competition from China and India is increasing. Aspermont also appears attractive at the current price level. The latest quarterly figures were positive, and the positioning of the small-cap in the booming commodities sector is promising. At Zalando, analysts react to the profit warning, and the price targets are significantly reduced. Nevertheless, some advise buying the online fashion retailer, but not everyone.

time to read: 3 minutes | Author: Fabian Lorenz
ISIN: NEL ASA NK-_20 | NO0010081235 , ZALANDO SE | DE000ZAL1111 , ASPERMONT LTD | AU000000ASP3

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    Dr. Thomas Gutschlag, CEO, Deutsche Rohstoff AG
    "[...] China's dominance is one of the reasons why we are so heavily involved in the tungsten market. Here, around 85% of production is in Chinese hands. [...]" Dr. Thomas Gutschlag, CEO, Deutsche Rohstoff AG

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    Aspermont: Back on course for growth and analysts advise buying

    The Aspermont share appears ripe for a rebound. The digital media company is cash-flow positive, benefiting from the strong economy in the commodities sector and the resurgence of live events. For example, the Canadian company has around 30 media brands for the mining, energy, and agricultural sectors and provides over 3.6 million users in 190 countries with high-quality content. In order to make even more intensive use of its contacts, the Company is currently entering the fintech sector. For this purpose, the "Blu Horseshoe" platform was founded together with partner's Spark Plus and International Pacific Capital - Aspermont holds 44% in the joint venture. The idea behind it: Commodity markets are booming, and investments in the sector are correspondingly high. "Blu Horseshoe" is to be built into THE innovative digital investment platform in the sector. It could then be expanded to include the energy and agricultural sectors. On the stock market, Aspermont is valued at around EUR 30.94 million at a share price of EUR 0.013. Much too low, say the analysts at GBC Research.

    The analysts see a target price of EUR 0.07 because Aspermont is growing significantly again. In the second quarter (fiscal year end is September 30), sales increased by 39% to AUD 4.8 million. That means that in the first half of the year, sales have already exceeded AUD 9 million. That is more than in the first half of 2019 (before Corona) and indicates a record year for the Company. Gross profit was AUD 3.1 million in the second quarter, putting the gross margin at a strong 65%. Cash flow and net income are also positive again. At the end of the first half, Aspermont had solid net cash of AUD 6.6 million.

    Zalando: Price targets fall

    Zalando's stock could do with a rebound. The value has lost significantly in recent months. In the current year alone, it went down from around EUR 65 to around EUR 25. Zalando last shocked investors on June 23 with a forecast reduction. Analysts are not yet in agreement about the prospects for the share. Hauck Aufhäuser continues to recommend the share as a buy but has reduced the price target from EUR 70 to EUR 55. The forecast was reduced more significantly than analysts had expected. However, Zalando had initiated measures to support profitability. Hauck remains convinced of the Company's long-term prospects. The analysts at Goldman Sachs criticize the Company's development, which is currently difficult to assess. Therefore, they have removed Zalando from the "Conviction Buy List" and reduced the price target from EUR 65 to EUR 40. HSBC sees a price target of only EUR 25. Following the profit warning, the analysts have adjusted their estimates. In their view, the online retailer is cheap even at the current price level.

    Nel: Future prospects in the hydrogen sector are gigantic

    With a market capitalization of around EUR 2 billion, Nel ASA is certainly no bargain. But the future prospects in the hydrogen sector are gigantic. This opinion is shared by Jefferies. The analysts recommend the Nel share as a buy with a target price of NOK 23 (price in NOK currently at 13.3). There will be increasing competition from China and India, but Nel has a strong position in Europe, and the analysts expect very positive supply-demand dynamics there. Fittingly, in Norway, the state-owned company Enova is funding five hydrogen initiatives with around EUR 64.4 million. From the funding pot, around EUR 14.4 million will go to Glomfjord Hydrogen. Nel holds a 23% stake in this company. Glomfjord Hydrogen plans to build a 20 MW hydrogen plant to produce green hydrogen.

    Even analysts can be wrong. But studies can help to form your own opinion. For instance, Aspermont seems attractive because of its positioning in the booming commodity sector coupled with rebounding sales and earnings. Nel's sporty valuation is offset by the hydrogen boom. Zalando currently requires more courage for entry.

    Conflict of interest

    Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as "Relevant Persons") may hold shares or other financial instruments of the aforementioned companies in the future or may bet on rising or falling prices and thus a conflict of interest may arise in the future. The Relevant Persons reserve the right to buy or sell shares or other financial instruments of the Company at any time (hereinafter each a "Transaction"). Transactions may, under certain circumstances, influence the respective price of the shares or other financial instruments of the Company.

    In addition, Apaton Finance GmbH is active in the context of the preparation and publication of the reporting in paid contractual relationships.

    For this reason, there is a concrete conflict of interest.

    The above information on existing conflicts of interest applies to all types and forms of publication used by Apaton Finance GmbH for publications on companies.

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    Der Autor

    Fabian Lorenz

    For more than twenty years, the Cologne native has been intensively involved with the stock market, both professionally and privately. He is particularly passionate about national and international small and micro caps.

    About the author

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