In a report released today, Constantin Hesse from Jefferies maintained a Buy rating on SMA Solar Technology, with a price target of €39.00.
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Constantin Hesse has given his Buy rating due to a combination of factors linked to SMA Solar Technology’s solid financial position and outlook. The company confirmed its 2025 preliminary figures and reiterated its 2026 guidance, while maintaining a strong net cash position of €176m, up substantially from the prior year, which underpins balance-sheet strength and strategic flexibility.
Another supportive factor is the continued robust order intake of €428m, particularly from the large-scale segment, alongside early signs of recovery in the Home and C&I businesses. Although recent revenue and profitability were burdened by price declines and sizable one-off charges, Hesse appears to view these as largely non-recurring, with the upcoming storage solutions and normalized earnings potential justifying a positive long-term stance on the shares.