Hold Rating Maintained as Limited Upside and Execution Risks Offset Long-Term Recovery Potential

Kepler Capital analyst Matteo Bonizzoni maintained a Hold rating on EuroGroup Laminations S.p.A yesterday and set a price target of €1.55.

Matteo Bonizzoni has given his Hold rating due to a combination of factors, starting with the collapse of the FountainVest transaction and the return to a purely fundamental valuation approach. While management reiterated confidence in the downgraded 2025 guidance and the company maintains a strategic interest in the Indian asset Kumar, these positives are tempered by only modest upside to the new target price versus the current market price.

At the same time, visibility on 2026 remains weak, as the group faces material external headwinds such as U.S. tariffs on Mexican exports, tighter European rules and duties on electrical steel, and lingering difficulties in scaling up in China after the failed deal. Bonizzoni assumes a recovery in growth and profitability beyond 2025, but the balance of limited near‑term visibility, execution risks and a fair, rather than compelling, valuation leads him to recommend holding the shares rather than taking a more aggressive stance.

According to TipRanks, Bonizzoni is a 5-star analyst with an average return of 21.1% and a 65.97% success rate. Bonizzoni covers the Industrials sector, focusing on stocks such as Fincantieri S.p.A., Nexans, and Prysmian SpA.