Analyst Carlo Maritano of Intermonte reiterated a Buy rating on El.En. S.p.A., boosting the price target to €15.80.
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Carlo Maritano has given his Buy rating due to a combination of factors that highlight El.En. S.p.A.’s strong financial performance and strategic direction. The company’s recent quarterly results showed a robust gross margin that exceeded expectations, driven by a favorable business mix with significant contributions from the Medical division. This division, particularly the Aesthetic segment, demonstrated resilience and growth, which offset some softness in the Industrial segment.
Additionally, El.En.’s strong cash generation and solid financial position further support the positive outlook. The management’s strategic focus on capital allocation, including potential bolt-on acquisitions and the exploration of strategic partnerships for the Industrial Cutting division, indicates a clear path for future growth. These factors, combined with the company’s ability to fine-tune estimates and maintain a positive earnings trajectory, underpin Maritano’s reaffirmed Buy rating and the increased target price.