ATOME Energy PLC (AIM:ATOM) has received a 'buy' recommendation from corporate broker Liberum with a price target of 180.4p per share - a more than 90% premium over its current share price.
Liberum's research note followed the company's announcement that it has teamed up with Latin America-based Cavendish, under the newly incorporated National Ammonia Corporation S.A (NAC).
The JV will leverage Cavendish's established position in the region and ATOME's expertise in large-scale hydrogen and ammonia production to develop projects across Central America and the Caribbean, starting with Costa Rica.
Costa Rica, known for its bold net-zero strategy to reach 100% renewable power by 2030, has been identified as the initial focus area for NAC due to its democratic, open economy and green reputation.
The complementary partnership with Cavendish, owned by the fourth oldest Toyota distributor in the world, will provide ATOME with a strong local partner and accelerate the development of a pipeline of international-scale green projects with local demand for green fertilizers.
With several material catalysts slated for 2023, Liberum said it continues to see compelling value in ATOME's shares.