Alfen NV, the Industrials sector company, was revisited by a Wall Street analyst today. Analyst David Kerstens from Jefferies upgraded the rating on the stock to a Buy and gave it a €18.00 price target.
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David Kerstens has given his Buy rating due to a combination of factors linked to Alfen’s strong positioning in the energy transition and improved financial outlook. He highlights robust, double‑digit growth across Smart Grids, Energy Storage, and EV Charging, supported by regulatory catalysts such as the Dutch Crisis Act and structural investments to ease grid congestion, which together underpin a near‑doubling of EBITDA margins by 2030.
He also points to sharply rising Energy Storage orders, an expected recovery in EV Charging market share, and a transformation program under new management aimed at profitable growth and international expansion. In Kerstens’s view, the shares remain attractively valued, trading at a meaningful discount to both historical multiples and peers, while his upgraded earnings forecasts and higher €18 target price indicate substantial upside potential from current levels.