Pauli Lohi has released a new company report on Fortum based on recent news ![]()
We have raised Fortum’s earnings forecasts, as the active construction of data centers and especially the major supply agreement signed with Google increase the probability of rising sales prices in the medium term. In our view, the stock’s valuation remains tight, and any upside potential would require a stronger price increase than we currently estimate. We reiterate our reduce recommendation, but raise the target price to 22 euros following the forecast revisions (prev. 20 €).