Mediobanca analyst Simonetta Chiriotti reiterated a Buy rating on doValue S.p.A today and set a price target of €3.40.
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Simonetta Chiriotti has given his Buy rating due to a combination of factors including the strong contribution from Coeo and the de-risking of the group’s medium-term earnings profile. Coeo is already delivering double-digit growth, with revenues and EBITDA significantly ahead of expectations, and its structural tailwinds from e-commerce and BNPL adoption support a more robust and diversified business mix.
At the same time, management has reiterated a €300m pro forma EBITDA target for the combined group, while the analyst’s model adjustments remain limited and largely related to timing of Coeo’s consolidation rather than a downgrade in fundamentals. Although the legacy business is currently soft and exhibits quarterly volatility, this is viewed as cyclical and consistent with full-year guidance, so the unchanged €3.4 target price reflects confidence that Coeo’s performance will offset near-term weakness and underpin upside from the current share price.
According to TipRanks, Chiriotti is an analyst with an average return of -19.8% and a 12.50% success rate.
In another report released on May 4, Intesa Sanpaolo also maintained a Buy rating on the stock with a €3.40 price target.