RBC announced on Wednesday that it had upgraded its rating on Thyssenkrupp Nucera to 'outperform', with a target price of €21.

In a research note, the Canadian broker highlights the fully financed growth plans of the German group, which specializes in electrolysis equipment for the production of green hydrogen.

The broker also praises the company's 'superior' execution capability and commercial success, which it believes make it a low-risk investment case.

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