{"id":330889,"date":"2024-12-13T00:17:47","date_gmt":"2024-12-12T16:17:47","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330889"},"modified":"2024-12-13T00:17:49","modified_gmt":"2024-12-12T16:17:49","slug":"stock-in-focus-acen-corp-acen-13-dec-2024-by-ap-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-in-focus-acen-corp-acen-13-dec-2024-by-ap-securities\/","title":{"rendered":"Stock in Focus: ACEN Corp. (ACEN) – 13 Dec 2024 by AP Securities"},"content":{"rendered":"\n

Summary of Broker’s Recommendation<\/h2>\n\n\n\n
Stock Code<\/strong><\/td>ACEN<\/td><\/tr>
Company Name<\/strong><\/td>ACEN Corp.<\/td><\/tr>
Broker<\/strong><\/td>AP Securities<\/td><\/tr>
Opinion Issued on<\/strong><\/td>13 Dec 2024<\/td><\/tr>
Recommendation<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 6.31<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
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ACEN operates New England Solar in New South Wales, with Stubbo Solar expected to come online next year. New South Wales, in particular, has the highest level of total installed capacity of rooftop PV with 6.6-GW or more than 25% of the entire Australian capacity. On a localized level, this could mean weak revenues from ACEN\u2019s Aussie operations this quarter as excess rooftop solar output temper demand. <\/p>\n\n\n\n

This could spell trouble for ACEN\u2019s International segment, as the company is heavily banking on Australia, along with India, to be one of the biggest contributors to its overseas revenues. However, despite recent developments in Australia, we remain a BUY on ACEN with a Target Price of P6.31.<\/p>\n\n\n\n

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Analysis and Opinion<\/h2>\n\n\n\n

Aussie grid at risk of oversupply<\/strong><\/p>\n\n\n\n

The Australian Energy Market Operator (AEMO) is reportedly seeking emergency powers that will allow them to turn down or even switch off excess rooftop solar exported to the grid by households and businesses. This comes after demand from grid power that cannot be supplied by rooftop solar plummeted to new lows this spring, which put grid stability at risk. Spring in the Southern Hemisphere runs from September to December, and is typically the season marked by peak solar power production and weak demand for electricity due to mild temperatures.<\/p>\n\n\n\n

A happy problem, but a problem nonetheless<\/strong><\/p>\n\n\n\n

Australia has fast emerged as the rooftop solar capital of the world, with more than 3.7-Mn homes and businesses having rooftop solar systems with a total installed capacity of 24.4-GW. However, this changes the dynamics of Australia\u2019s electricity grid which now has to accommodate excess solar supply flowing from consumers. The latest available report from the Australian Clean Energy Council showed that rooftop solar contributed 13,479 GWh or 11.3% of the nation\u2019s total energy mix in the first half of 2024, but a more recent report from AEMO showed that at certain times, output from rooftop solar reached nearly 50% this spring.<\/p>\n\n\n\n

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Check how many brokers recommend this stock<\/h2>\n\n\n\n
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All Stock Rankings<\/a><\/blockquote>