Mediobanca analyst Alessandro Tortora has maintained their neutral stance on CIG stock, giving a Hold rating on November 14.
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Alessandro Tortora has given his Hold rating due to a combination of factors impacting Carel Industries SpA. The company’s third-quarter performance showed promising growth, with EBITDA and net profit slightly exceeding expectations, and a notable reduction in net debt. However, while sales in North America and the data center business are strong, the industrial HVAC segment remains vulnerable to macroeconomic volatility.
Furthermore, the company’s outlook for the fourth quarter suggests stable sales but a seasonal dip in profitability, which tempers enthusiasm for a more aggressive rating. Although there is potential for growth through planned capital expenditures and M&A activities, the current market conditions and capital allocation strategies do not yet justify a more optimistic rating. As a result, Tortora maintains a Neutral stance with a target price of €25.0, reflecting a cautious but balanced view of Carel’s future prospects.
In another report released on November 14, Kepler Capital also maintained a Hold rating on the stock with a €24.00 price target.