Hold Rating for Alkemy SpA Amidst Shareholder Changes and Financial Uncertainties

Intesa Sanpaolo analyst Gabriele Berti maintained a Hold rating on Alkemy SpA (0DF1 – Research Report) on February 27 and set a price target of €12.00.

Gabriele Berti has given his Hold rating due to a combination of factors surrounding Alkemy SpA’s current financial and strategic situation. One significant aspect is the recent agreement where Retex is set to acquire a substantial portion of Alkemy’s shares, which could lead to the company’s delisting. This acquisition indicates a shift in the company’s shareholder structure, potentially impacting its market presence and future operations.
Additionally, Alkemy’s preliminary financial results for the fiscal year showed a decline in both revenues and EBITDA, with a notable decrease in profitability due to an unfavorable revenue mix. The company’s financial outlook is further complicated by extraordinary costs related to personnel and strategic changes. Given these uncertainties and the lack of meaningful forecasts for the coming years, Berti maintains a valuation aligned with the current share price, justifying the Hold rating.