TP ICAP MIDCAP analyst Davide Longo maintained a Buy rating on eVISO SpA (6Z8 – Research Report) on February 14 and set a price target of €8.80.
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Davide Longo has given his Buy rating due to a combination of factors reflecting strong financial performance and strategic initiatives by eVISO SpA. The preliminary results for HY24-25 showed a significant increase in revenues by 55% year-over-year, reaching €169.5 million, which aligns well with the TP ICAP target. Additionally, the company reported a substantial rise in electricity and gas volumes, with electricity up 43% and gas up 155% year-over-year, indicating robust operational growth.
Moreover, the company’s net financial position remained strong and cash-positive despite engaging in share buybacks and dividend distribution, demonstrating financial stability. The gross margin guidance suggests a healthy increase of 30% year-over-year, with an implied EBITDA margin of over 4%. These positive financial metrics, along with strategic projects like Smart Mele showing growth, provide visibility and confidence in the company’s future prospects. As a result, Longo maintains the Buy recommendation with a price target of €8.8 per share.
Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of 6Z8 in relation to earlier this year.