Bernstein ups Solaria to 'outperform' citing attractive entry point

** Bernstein ups Spanish renewable energy firm Solaria SLRS.MC to "outperform" from "market-perform" citing an "attractive entry point" created by the stock's recent falls

** "The recent derating has gone too far," Bernstein says, adding that key risks, including higher bond yields and data centre regulation, are largely priced in

** According to the brokerage, structural growth drivers remain intact, as Spanish power demand continues to grow on the back of solid economic fundamentals

** Moreover, the company's Capital Markets Day in November could act as a positive catalyst by providing greater visibility on infrastructure and battery deployment plans, Bernstein says

** Still, it cuts Solaria's PT by 22% to €19.80 ($22.46) to reflect a more cautious outlook on data centre infrastructure and solar capacity growth

** Including the session's gains, the stock has dropped by 11.5% YTD​

($1 = 0.8816 euros)