Original-Research: OTI Greentech AG (von First Berlin Equity Research GmbH): ...

Original-Research: OTI Greentech AG - von First Berlin Equity Research GmbH

Einstufung von First Berlin Equity Research GmbH zu OTI Greentech AG

Unternehmen: OTI Greentech AG

ISIN: DE000A0HNE89

Anlass der Studie: Aufnahme Coverage

Empfehlung: Kaufen

seit: 18.09.2015

Kursziel: 2,00

Letzte Ratingänderung:

Analyst: Dr. Karsten von Blumenthal

First Berlin Equity Research hat am 18.09.2015 die Coverage von OTI

Greentech AG (ISIN: DE000A0HNE89/ Bloomberg: NSA GR) aufgenommen. Analyst

Dr Karsten von Blumenthal stuft die Aktie mit einem BUY-Rating ein, bei

einem Kursziel von EUR 2,00.

Abstract:

Die OTI Greentech AG ist ein internationales Cleantech-Unternehmen, das

Ingenieursdienstleistungen und umweltfreundliche Reinigungsproduke für den

maritimen, den industriellen und den Energiesektor anbietet. Aufgrund von

Akquisitionen ist OTI bereits ein etablierter Spieler im maritimen und

industriellen Sektor und offeriert hervorragende

Ingenieursdienstleistungen. OTIs patentierte Reinigungslösungen für die

Reinigung von Tankern sind Wettbewerbsprodukten häufig überlegen und können

auch im industriellen Sektor (Reinigung von Tankwagen und Binnenschiffen)

und im Energiesektor (Sanierung von Ölsand-Rückstandsteichen) angewendet

werden. Wir erwarten, dass OTIs Ingenieursgeschäft kurzfristig der

Hauptwachstumstreiber sein wird. Mittelfristig dürften strengere

Umweltregulierungen und Kostendruck durch niedrigere Ölpreise die Nachfrage

nach OTIs kostengünstigen und effizienten Reinigungslösungen deutlich

steigern. Wir nehmen die Coverage mit einer Kaufempfehlung und einem

Kursziel von EUR2,00 auf.

Interessierte institutionelle Investoren können gerne mit First Berlin

Equity Research, Herrn Gaurav Tiwari (g.tiwari@firstberlin.com) Kontakt

aufnehmen.

First Berlin Equity Research on 18/09/2015 initiated coverage on OTI

Greentech AG (ISIN: DE000A0HNE89/ Bloomberg: NSA GR). Analyst Dr Karsten

von Blumenthal placed a BUY rating on the stock, with a EUR 2.00 price

target.

Abstract:

OTI Greentech AG (OTI) is an international cleantech company providing

engineering services and environmentally friendly cleaning products for the

maritime, industrial, and energy sectors. Due to acquisitions OTI Greentech

is already an established player in the maritime and industrial businesses

offering cutting edge engineering services. OTI's patented cleaning

solutions for tanker cleaning are in many cases superior to competing

products and can also be applied in the industrial sector (road tanker and

barge cleaning) and the energy sector (remediation of oil sands tailings

ponds). In the short term, we expect OTI's engineering business to be the

main growth driver. In the medium term, tougher environmental regulations

and cost pressure caused by lower oil prices look set to significantly

increase demand for OTI's cost-effective and efficient cleaning solutions.

We initiate coverage with a Buy recommendation and a price target of

EUR2.00.

Interested institutional Investors may contact Mr Gaurav Tiwari

(g.tiwari@firstberlin.com) at First Berlin Equity Research.

DISCLAIMER

First Berlin Equity Research GmbH

Mohrenstraße 34

10117 Berlin

Tel. +49 (0)30 - 80 93 96 80

Fax +49 (0)30 - 80 93 96 87

info@firstberlin.com

www.firstberlin.com

FIRST BERLIN POLICY

In an effort to assure the independence of First Berlin research neither

analysts nor the company itself trade or own securities in subject

companies. In addition, analysts' compensation is not directly linked to

specific financial transactions, trading revenue or asset management fees.

Analysts are compensated on a broad range of benchmarks. First Berlin has

received compensation from a third party where the subject company is a

client. First Berlin's opinion is based on its own findings.

ANALYST CERTIFICATION

I, Dr Karsten von Blumenthal, certify that the views expressed in this

report accurately reflect my personal and professional views about the

subject company; and I certify that my compensation is not directly linked

to any specific financial transaction including trading revenue or asset

management fees; neither is it directly or indirectly related to the

specific recommendation or views contained in this research. In addition,

I possess no shares in the subject company.

INVESTMENT RATING SYSTEM

First Berlin's investment rating system is five tiered and includes an

investment recommendation and a risk rating. Our recommendations, which

are a function of our expectation of total return (forecast price

appreciation and dividend yield) in the year specified, are as follows:

STRONG BUY: Expected return greater than 50% and a high level of confidence

in management's financial guidance

BUY: Expected return greater than 25%

ADD: Expected return between 0% and 25%

REDUCE: Expected negative return between 0% and -15%

SELL: Expected negative return greater than -15%

Our risk ratings are Low, Medium, High and Speculative and are determined

by ten factors: corporate governance, quality of earnings, management

strength, balance sheet and financing risk, competitive position, standard

of financial disclosure, regulatory and political uncertainty, company

size, free float and other company specific risks. These risk factors are

incorporated into our valuation models and are therefore reflected in our

price targets. Our models are available upon request to First Berlin

clients.

Up until 16 May 2008, First Berlin's investment rating system was three

tiered and was a function of our expectation of return (forecast price

appreciation and dividend yield) over the specified year. Our investment

ratings were as follows: BUY: expected return greater than 15%; HOLD:

expected return between 0% and 15%; and SELL: expected negative return.

ADDITIONAL DISCLOSURES

First Berlin's research reports are for qualified institutional investors

only.

This report is not constructed as an offer to sell or the solicitation of

an offer to buy any security in any jurisdiction where such an offer would

be illegal. We are not soliciting any action based upon this material. This

material is for the general information of clients of First Berlin. It does

not take into account the particular investment objectives, financial

situation or needs of individual clients. Before acting on any advice or

recommendation in this material, a client should consider whether it is

suitable for their particular circumstances and, if necessary, seek

professional advice. The material is based upon information that we

consider reliable, but we do not represent that it is accurate or complete,

and it should be relied upon as such. Opinions expressed are our current

opinions as of the date appearing on this material only; such opinions are

subject to change without notice.

Copyright (c) 2015 First Berlin Equity Research GmbH. All rights reserved.

No part of this material may be copied, photocopied or duplicated in any

form by any means or redistributed without First Berlin's prior written

consent. The research is not for distribution in the USA or Canada. When

quoting please cite First Berlin as the source. Additional information is

available upon request.

Die vollständige Analyse können Sie hier downloaden:

http://www.more-ir.de/d/13271.pdf

Kontakt für Rückfragen

First Berlin Equity Research

Herr Gaurav Tiwari

Mohrenstraße 34

10117 Berlin

Tel. +49 (0)30 - 80 93 96 80

Fax +49 (0)30 - 80 93 96 87

info@firstberlin.com

-------------------übermittelt durch die EQS Group AG.-------------------

Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw.

Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung

oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.