In a report released today, Denese Newton from Stifel Nicolaus upgraded Pantheon Infrastructure PLC to a Buy, with a price target of p114.00.
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Denese Newton has given his Buy rating due to a combination of factors influencing Pantheon Infrastructure PLC’s current market position. The company’s shares are trading at a significant discount of approximately 20% to the expected net asset value (NAV) as of December 31, 2025. This discount presents an attractive opportunity for investors, especially given the strong NAV growth driven by earnings increases at portfolio companies, which have resulted in a total return of 20% over the past 18 months.
Additionally, Pantheon Infrastructure PLC boasts a robust balance sheet, with a net cash position accounting for 4% of NAV and manageable outstanding commitments. The recent rise in the price of Constellation Energy, which is bidding for Calpine, Pantheon’s largest investment, is expected to further enhance the NAV. These factors, combined with the potential for capital growth and a fair valuation target of 114p, support the Buy recommendation despite the current market volatility.