Kernel Holding SA last = 48 PLN 1w: +2.2 (4.8%)
% vs. spot / Price1M6M12MLT(2Y)LT(3Y)
Target Price (consensus)6.7%20%---
Upside (Bull Case)6.7%20%---
Downside (Bear Case)-----

Company's operations have tested bottom as crushing margins lost ~30% (current EBITDA margin ~5%). I consider that this bottom is a good entry point in order to capture recovering sector fundamentals. Additionally, the construction of a new crushing plant and transshipment port make Kernel a growth story.