IC view - late June23 Jul 2020 15:45
IC View
The bulk of global production is used in alloys, especially with steel. So, the level of output from China’s mills is also a critical determinant in pricing. The growth in renewable energy sources could support future revenue streams if storage deployments, in which vanadium redox batteries play a major role, become more important. For now, the shares trade well below the consensus target price of 27.5p a share, but the financial outcome in FY2021 remains intertwined with the price of the underlying commodity. Buy.
Last IC view: Buy, 21p, 30 Sep 2019