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5N Plus Initiated at Outperform, C$41 Price Target at RBC

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RBC Capital Markets initiated coverage of 5N Plus (VNP.TO) with an Outperform rating and C$41 price target.

Analyst Nelson Ng said the Canadian producer of specialty semiconductors and performance materials has a "strong competitive position in producing niche and high purity materials."

"We believe the recent pullback in the share price provides an attractive entry point into a company that is seeing strong demand for its space solar cells and semiconductor compounds for thin film solar panels," Ng said in a note to clients.

"We forecast EBITDA growth over the next three years to be 18% CAGR, and our price target is based on a blended 17.5x multiple applied to our 2028 EBITDA estimate," the analyst said.

(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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