Italian Sea Group S.p.A. (6QN – Research Report), the Consumer Cyclical sector company, was revisited by a Wall Street analyst yesterday. Analyst Filippo Migliorisi from TP ICAP MIDCAP reiterated a Buy rating on the stock and has a €12.70 price target.
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Filippo Migliorisi’s rating is based on the Italian Sea Group S.p.A.’s strong financial performance in the first quarter of 2025, where the company reported a 1% year-over-year increase in revenue to €96.8 million, driven by a 4.5% rise in shipbuilding revenue. The company’s EBITDA margin improved to 17.3%, reflecting effective cost management despite increased personnel expenses. This financial stability, alongside a solid order backlog of €415 million, provides nearly a year’s revenue visibility.
Moreover, the company’s strategic focus on semi-custom yachts, which now make up 20-25% of the backlog, is expected to grow further, potentially reaching 30-35% in the medium term. This expansion, coupled with ongoing discussions for new orders, positions the company well in a challenging market. The analyst maintains a Buy rating with a target price of €12.7, highlighting confidence in the company’s trajectory and potential for positive developments in the megayacht and full custom build segments.
In another report released yesterday, Intermonte also maintained a Buy rating on the stock with a €11.00 price target.