In a report released yesterday, Carlo Maritano from Intermonte maintained a Buy rating on EMAK SPA (0N9O – Research Report), with a price target of €1.45.
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Carlo Maritano has given his Buy rating due to a combination of factors including EMAK SPA’s robust revenue growth and strategic initiatives aimed at improving profitability. Despite facing challenges in 2024, such as increased operating and labor costs and weaker margins in certain divisions, the company managed to exceed revenue expectations, indicating strong market demand and effective sales strategies.
Looking forward, Maritano anticipates a recovery in EMAK’s profitability starting in 2025, driven by efficiency measures and investments made in previous years. The company’s commitment to sustainable growth and long-term value creation, along with a focus on reducing net debt, supports a positive outlook. These factors, combined with the potential for a re-rating of the stock’s multiples, underpin Maritano’s confidence in maintaining a Buy rating with a target price of €1.45.