ATOME’s expansion of its Villeta plant in Paraguay into fertiliser adds material long-term value and gives access to a considerable and growing market, suggests Liberum.
Baker Hughes, meanwhile, coming on board as a 6.6% shareholder, establishes a relationship with a significant player in the hydrogen value chain and validates ATOME’s strategy, it adds.
The broker is upping its target price to 220p, from 195p, and reiterates its ‘buy’ rating.
Shares jumped 10% to 103p.