Analyst Carlo Maritano of Intermonte maintained a Hold rating on Elica S.p.A., with a price target of €1.60.
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Carlo Maritano has given his Hold rating due to a combination of factors influencing Elica S.p.A.’s current financial standing and market position. The company has shown signs of improvement with organic revenue growth in both its Cooking and Motors divisions, particularly in North America. However, the ongoing investments in transforming the Cooking business have kept margins under pressure, leading to a slight decrease in the adjusted EBIT margin.
Despite these challenges, Elica’s strategic acquisition of a stake in Steel Srl is expected to bolster its presence in the premium cooking segment and enhance its market penetration in North America. The acquisition is seen as a positive move, but the uncertain geopolitical environment and flat market expectations for the latter half of 2025 contribute to a cautious outlook. Consequently, Maritano maintains a neutral stance, with a target price of €1.60, reflecting confidence in the company’s long-term strategy while acknowledging short-term uncertainties.