Costly financing cuts the target price
TARGET CHANGE
CHANGE IN TARGET PRICE € 0.14 vs 0.40 -66.0%
In the aftermath of last week's developments on equity line financing, we have updated our model. The massive dilution resulted in a 3x increase in the number of outstanding shares. We are expecting the financing woes to continue into next year, and have hence downgraded our target price.
CHANGE IN EPS
2022 : € (0.01) vs (0.02) ns
2023 : € (0.01) vs (0.03) ns
The dilution as a resul ....
