David Hayes, an analyst from Jefferies, maintained the Buy rating on Intercos S.p.A.. The associated price target was raised to €15.80.
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David Hayes’s rating is based on a combination of factors that highlight the potential for Intercos S.p.A. to perform well despite current market challenges. The company is expected to achieve an organic sales growth (OSG) of 1.9% in the second quarter, aligning with consensus expectations, as customers reduce inventories in anticipation of potential tariff impacts.
Despite these short-term challenges, Hayes anticipates a stronger performance for the full fiscal year, projecting a 5.4% OSG, which is within the company’s guidance range of 5-7% for FY25. Additionally, Intercos’s strategic partnerships with local brands in key markets like China position it to capitalize on improving demand trends, further supporting the Buy rating.
In another report released on June 24, Berenberg Bank also maintained a Buy rating on the stock with a €20.00 price target.