Mediobanca analyst Alessandro Tortora has maintained their neutral stance on CIG stock, giving a Hold rating on May 6.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Alessandro Tortora has given his Hold rating due to a combination of factors impacting Carel Industries SpA. The company’s first-quarter results were largely in line with expectations, showing stable EBITDA and a slight improvement in net debt. However, the organic sales growth was flat, with some regional disparities such as strong performance in North America but a decline in APAC.
Looking ahead, Carel Industries anticipates a stronger second quarter, driven by a solid order backlog and positive market trends, particularly in the Refrigeration segment and Data Center developments. Despite these positive indicators, the need for sustained and accelerated growth, possibly supported by M&A activities, is crucial for a potential rerating of the stock. As such, the Hold rating reflects a cautious stance, awaiting further consolidation of growth trends and improvements in EBITDA margins.
In another report released on May 6, Kepler Capital also maintained a Hold rating on the stock with a €17.50 price target.