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Bluefield Solar Income Fund: Investment bank upbeat

Published 05/03/2024, 12:21
Updated 05/03/2024, 12:21
Bluefield Solar Income Fund: Investment bank upbeat

Proactive Investors - RBC Capital sees 25% upside for shares in Bluefield Solar Income Fund (LON:BSIF) after tweaking its valuation in the wake of the latter's interim results.

In a short note, the investment bank set a 130p target for the stock (down 5p from its previous valuation), which is still well ahead of the current price of 104p. This adjustment reflects a modest fall in the NAV in the first half.

a valuation that allows the shares to trade at par with the BSIF's net asset value.

The analysis also highlights a positive stance on BSIF's medium-term financial strategy, particularly its progress in repaying its revolving credit facility (RCF).

RBC continues to advocate for increased asset disposals as a means to fully repay the RCF and support a more substantial share buyback programme.

Read more on Proactive Investors UK


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