Alantra Equities analyst Andrea Zampaloni reiterated a Buy rating on Distribuzione Elettrica Adriatica S.p.A yesterday and set a price target of €12.30.
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Andrea Zampaloni has given his Buy rating due to a combination of factors including stronger‑than‑expected 2025 results and an appealing valuation. DEA delivered robust double‑digit revenue growth and notable margin expansion, supported by the full consolidation of ASPM Soresina, solid underlying organic performance, and operating leverage, despite a less favorable regulatory WACC and higher personnel and service costs.
He also highlights that profitability exceeded forecasts at every level, while leverage remains very low even after sustained capex and M&A, leaving ample room for further investments. In addition, the upcoming Italian Budget Law and sector consolidation could unlock further upside that is not fully captured in current estimates, and with the shares trading at a sizeable discount to regulated asset base, he sees a 38% upside to his increased target price of €12.3 per share.
According to TipRanks, Zampaloni is an analyst with an average return of -1.0% and a 42.86% success rate.