Mediobanca analyst Alessandro Tortora has maintained their neutral stance on CIG stock, giving a Hold rating on March 14.
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Alessandro Tortora has given his Hold rating due to a combination of factors influencing Carel Industries SpA. The company’s recent financial performance showed a mixed picture, with a decline in organic sales year-over-year, although EBITDA was in line with expectations. The net profit was significantly higher than anticipated, partly due to a positive effect from options on minorities.
Looking ahead, while there are signs of recovery in certain regions and business segments, the overall macroeconomic environment remains challenging. The company’s order intake has shown positive momentum, but it will take time to translate into tangible results. The management’s guidance suggests stable sales in the near term with potential acceleration later in the year. Despite these factors, the current market conditions and the need for a structural return to higher growth rates justify maintaining a Hold rating with a target price of €20.80.
In another report released on March 14, Kepler Capital also upgraded the stock to a Hold with a €17.50 price target.