Analyst Pietro Nargi of Intermonte maintained a Buy rating on CY4Gate SpA (68H – Research Report), retaining the price target of €6.10.
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Pietro Nargi’s rating is based on CY4Gate SpA’s strategic reorganization efforts and positive financial indicators. The company has initiated a process focused on optimizing cash flow management and improving cost efficiency, which is already showing promising results with positive margins and cash generation in the first quarter. The confirmation of revenue guidance for 2025, with a significant portion of revenues already secured through the order backlog, further supports a positive outlook for the stock.
Pietro Nargi also highlights the company’s strong performance in various segments, such as Forensic Intelligence and Cyber Security, which have shown substantial growth. The company’s focus on enhancing process efficiency, managing working capital, and optimizing supply chain agreements under the guidance of a new CFO is expected to yield further improvements. These factors, combined with a stable market presence and a target price based on a 9x EV/EBITDA multiple, underpin the Buy rating for CY4Gate SpA.