Kepler Capital analyst Niccolo Guido Storer maintained a Buy rating on Ferretti S.p.A. today and set a price target of €3.80.
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Niccolo Guido Storer’s rating is based on a combination of factors that highlight Ferretti S.p.A.’s potential for growth and value. Despite a soft order intake in the second quarter, the company managed to slightly increase its revenues and EBITDA, demonstrating resilience in a challenging market environment. The company’s effective cost containment measures, which target SG&A, marketing, and personnel costs, are expected to support profitability and ongoing negotiations.
Additionally, Ferretti’s strong net cash position, which improved significantly due to better working capital management, underscores its financial health. Although the order intake was lower than expected, the company has reaffirmed its full-year guidance, projecting a mid-single-digit revenue increase and an EBITDA margin improvement. Storer believes that the stock is undervalued given Ferretti’s prominent position in the yachting industry and its successful business model.