SAFE-T. NASDAQ IPO – $7.3M raised strengthens equity structure; significant growth in revenues and backlog offset by a substantially increased burn rate due to operational and technological expansion; valuation retained, however due to additional shares, target price decreased to NIS 3.85.
Enlight Renewable Energy. Increase in revenue from electricity sales in H1-2018 due to full commercial operation in Ireland and in Croatia; Housing Cabinet approval for the Bereshit Project received; Acquisition of rights to a wind energy project in Spain; All other projects are progressing as scheduled; In light of the company meeting our expectations stock target price remains unchanged.
Energix. Favorable regulatory changes in Poland support the continued growth of the company’s operations; Expectation of regulatory progress in the company’s flagship project – the Aran project in the Golan Heights; all projects in development are progressing according to schedule; target price remains at NIS 4.61.