FNM S.p.A., the Financial sector company, was revisited by a Wall Street analyst yesterday. Analyst Davide Rimini from Intesa Sanpaolo maintained a Buy rating on the stock and has a €0.71 price target.
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Davide Rimini has given his Buy rating due to a combination of factors that highlight FNM S.p.A.’s strong performance and potential for future growth. The company’s third-quarter results showed a solid increase in revenue and EBITDA, driven by the strong performance in its Mobility & Services and Energy divisions. Despite a decline in net income due to higher depreciation and interest expenses, the company’s ability to maintain its full-year EBITDA guidance demonstrates resilience and operational strength.
Rimini also considers the company’s strategic adjustments, such as the revised capex guidance, which reflects a prudent approach in response to delays in energy projects. The updated target price of EUR 0.71, based on revised valuation parameters, further supports the Buy rating. Additionally, the company’s ability to mitigate short-term refinancing risks and its commitment to maintaining a dividend proposal aligns with investor interests, making FNM S.p.A. an attractive investment opportunity.
In another report released on November 17, Intermonte also maintained a Buy rating on the stock with a €0.70 price target.