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Jefferies and Stifel reaffirm 'Buy' rating on Foresight Solar
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Net asset value at the trust has fallen by 6.4% to £697.9m in the year to 31 December 2023, reflecting weaker power prices and higher discount rates, noted Stifel analyst Iain Scouller. Foresight increases dividend as funds under management stagnates He argued the 2024 dividend target of 8p — a 6% increase from 2023 — and FSFL's progress on divestments compared to its peers were positive notes for the vehicle. Additionally, it has been able to repay £30m of its revolving credit facility, reducing it to £75m. Total outstanding debt stood at £443m, leading to a drop in leverage to 38...
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