In a report released on March 17, Andrea Randone from Intermonte maintained a Buy rating on LU-VE SpA (LUVE – Research Report), with a price target of €36.40.
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Andrea Randone has given his Buy rating due to a combination of factors including LU-VE SpA’s strong financial performance and strategic outlook. The company’s FY24 results exceeded expectations, particularly in terms of cash flow and EBITDA, which saw a notable increase due to improved margins and effective cost management. Additionally, the company’s net profit significantly surpassed estimates, aided by reduced financial charges and favorable foreign exchange impacts.
Looking forward, LU-VE SpA’s management anticipates continued strength in its commercial refrigeration and tumble dryer segments, with important revenue contributions expected from data center cooling systems and industrial refrigeration in the latter half of 2025. Despite some uncertainties in the heat-pump market, the company is well-positioned to maintain its competitive edge through technological advancements and the operationalization of new plants in China and the United States. These factors, along with a strategic local-for-local industrial approach, are expected to protect against tariff risks and support future growth, justifying the upward revision of the target price.
In another report released on March 17, Intesa Sanpaolo also maintained a Buy rating on the stock with a €33.50 price target.
LUVE’s price has also changed moderately for the past six months – from EUR26.250 to EUR29.700, which is a 13.14% increase.