TP ICAP MIDCAP analyst Filippo Migliorisi reiterated a Buy rating on Novamarine S.P.A. (NOVA – Research Report) on March 31 and set a price target of €6.00.
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Filippo Migliorisi has given his Buy rating due to a combination of factors including Novamarine S.P.A.’s impressive financial performance and strategic growth initiatives. The company reported an 11.2% increase in revenue and a significant improvement in EBITDA margin, reaching 21.9%, which underscores the profitability of their larger vessel sales. Additionally, the net income surged by 90.4% year-over-year, highlighting effective financial management and controlled growth in depreciation and amortization expenses.
Furthermore, Novamarine’s strategic expansion plans, such as increasing their focus on high-end vessels and expanding production for professional models, are expected to sustain growth. The confirmed order book of €27.1 million, supported by strategic partnerships, particularly in the US market, positions the company well for future success. These factors collectively support the Buy recommendation with a price target of €6.0.
NOVA’s price has also changed slightly for the past six months – from EUR3.480 to EUR3.500, which is a 0.57% increase.