AlphaValue Corporate Services Fundamental Analysis FR
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AlphaValue Corporate Services
This research has been commissioned and paid for by the company and is deemed to constitute an acceptable minor non-monetary benefit as defined in MiFID II

Blackstone Resources

CR
Bloomberg   BLS SW
Batteries-Battery Sys  /  Switzerland  Web Site   |   Investors Relation
Banking on big-bang battery technology initiatives
EPS change18/05/2021

Better-than-expected results; battery R&D progress continues unabated

Change in EPS2021 : CHF -0.20 vs 0.27ns
2022 : CHF 0.08 vs 0.84-90.4%

With the near term still focused on battery R&D and development / kick-start of respective divisions, the earnings / cash flow metrics are likely to remain restrained. Hence, our earnings estimates reset materially lower.



Change in Target PriceCHF 12.1 vs 12.7-4.61%

Bulk of Blackstone Resources’ value lies in the long term – which also reflects in a material NAV upside. Hence, our positive stock recommendation is maintained. This view is backed by a series of battery R&D milestones and financing arrangements since mid-2020.



Target
Upside 339%
Price (CHF) 2.66
Market Cap (CHFM) 114
Perf. 1W: 11.8%
Perf. 1M: -6.34%
Perf. 3M: -25.3%
Perf Ytd: 23.1%
10 day relative perf. to stoxx600: 0.56%
20 day relative perf. to stoxx600: -9.00%
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