eVISO SpA, the Utilities sector company, was revisited by a Wall Street analyst today. Analyst Chiara Tavazzi from Intermonte maintained a Buy rating on the stock and has a €11.65 price target.
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Chiara Tavazzi’s rating is based on eVISO SpA’s robust performance and strategic advancements. The company has demonstrated significant growth in its electricity and gas supply volumes, with electricity supplied exceeding 1TWh and gas volumes increasing by 123% year-over-year. This growth has been supported by a slight rise in energy commodity prices, leading to a 41% increase in revenues to €315.4 million. Despite a slight shortfall in expectations for electricity volumes and gross margin, the company’s gross margin has improved by 6-10% year-over-year.
Furthermore, eVISO has made notable progress in its commercial, technological, and operational domains. The signing of a multi-year supply contract with a major industrial player and the expansion of its direct sales channel have strengthened its market position. Technological upgrades have enhanced operational efficiency, aligning with the company’s “Scala 100x” strategy. Although there are adjustments in future estimates due to competitive pressures and increased investments, the strategic roadmap, including expansion in Southern Europe and potential M&A activities, supports a positive outlook. Consequently, the target price has been raised to €11.65 per share, reaffirming the Buy rating.