Analyst Andrea Zampaloni from Alantra Equities maintained a Buy rating on Industrie Chimiche Forestali SpA and keeping the price target at €8.50.
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Andrea Zampaloni has given his Buy rating due to a combination of factors that highlight Industrie Chimiche Forestali SpA’s strong financial performance and strategic positioning. Despite a slight decline in sales during the third quarter of 2025, the company demonstrated resilience through its diversified market presence, particularly in the automotive and packaging sectors, which helped offset challenges in the luxury and leather segments. This diversification has been crucial in maintaining stability amidst market fluctuations.
Moreover, the company’s profitability has improved, with EBITDA increasing by 6.6% year-over-year, driven by cost management and reduced input expenses. The robust free cash flow generation has further strengthened the company’s financial position, allowing for debt reduction and enhancing its credit profile. Although there is limited visibility in certain market segments, the company’s solid financial fundamentals and attractive valuation, with a target price indicating a 47% upside, support the Buy rating. This outlook is reinforced by a disciplined approach to financial management and a strong credit standing, positioning the company favorably among its peers.

