Italian Exhibition Group SpA, the Communication Services sector company, was revisited by a Wall Street analyst yesterday. Analyst Alessio Olmi from TP ICAP MIDCAP maintained a Buy rating on the stock and has a €11.00 price target.
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Alessio Olmi has given his Buy rating due to a combination of factors that highlight both the strength of Italian Exhibition Group’s business model and the disconnect between its fundamentals and current market valuation. He underlines that the company has significantly reinforced its competitive position in recent years by enlarging its scale, broadening its international reach, and developing a portfolio of fairs and events that enjoy increasing global visibility, all supported by structurally solid demand in its key segments. Despite this, the share price has recently retreated by about 15–20% from its highs and still trades at a sizeable discount of roughly 30% versus a key peer on EV/EBIT multiples, even though IEG shows above-sector-average growth prospects and one of the strongest margin profiles in the industry, with an EBIT margin close to 20%.
Olmi also points to the upcoming 2026–2030 strategic plan as a major catalyst that should provide clearer guidance on growth targets, business perimeter evolution, and capital allocation, helping the market to better appreciate the company’s trajectory. He notes that IEG is undertaking an unprecedented investment plan of around €100m over 2026–27, while maintaining an attractive return on capital employed and a conservative leverage level near 1x, substantially below some peers, which supports the sustainability of its expansion. In his view, the combination of solid fundamentals, discounted valuation, robust financial profile and the visibility expected from the new industrial plan makes the current phase a compelling entry point, justifying the reiterated Buy recommendation and a target price of €11 per share.
According to TipRanks, Olmi is ranked #3987 out of 11984 analysts.