Michele Mombelli, an analyst from TP ICAP MIDCAP, maintained the Buy rating on Intred SpA. The associated price target is €18.30.
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Michele Mombelli’s rating is based on Intred SpA’s strong financial performance and growth prospects. The company reported a significant year-over-year increase in EBITDA by approximately 9%, reaching €12.5 million, which aligns with and slightly exceeds the firm’s expectations. This growth is largely driven by the conversion of Bandi Scuole into recurring revenues, particularly boosting the public administration segment by 33%.
Additionally, future growth catalysts include the continued conversion of Bandi Scuole and the development of a new data center to enhance connectivity and hosting services. The company’s revenue dynamics are becoming more stable, with organic growth at 7.8% year-over-year, and a strong performance in ultrabroadband and voice & data services. With a manageable net debt and a positive outlook for the second half of the year, Mombelli confirms a Buy recommendation with a target price of €18.3 per share.
In another report released on September 26, Intermonte also maintained a Buy rating on the stock with a €16.00 price target.
ITD’s price has also changed moderately for the past six months – from EUR11.100 to EUR9.680, which is a -12.79% drop .