16:38 4 May 2026
Analyst at BM Pekao recommends selling Bogdanka’s shares
Analyst Tomasz Duda from BM Pekao maintained a “sell” recommendation for Bogdanka shares, citing low chances of renegotiating coal prices.
Although the stock surged 83% earlier due to rising gas prices and expectations of higher coal demand, it has since dropped by about one third. The target price is set at PLN 18.12.
Bogdanka’s Q1 results were weak, with coal prices down 13.6% year on year while extraction costs rose 18%, significantly reducing profitability. Inventory levels are not low enough to trigger price increases soon.
The analyst expects only modest price growth in 2027 and forecasts negative cash flows due to high investment spending, suggesting limited upside for the company.
(pb.pl)
