Pareto Securities repeats its Buy rating on Norwegian fuel systems company Hexagon Composites but cuts its price target to NOK 19 from 24.
The research firm sees a risk that eased US emissions regulations will delay the transition to natural gas-powered trucks. EBITDA forecasts for 2027–2028 are therefore cut by 13–14 percent, but they remain 24 and 8 percent above consensus, respectively.
Pareto expects EBITDA of NOK 325 million for 2026, above the company’s guidance of approximately NOK 300 million. The stock is valued at 13 times normalized earnings.
