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OMER S.p.A.: Resilient Fundamentals and Structural Growth Support Buy Rating Despite Softer FY26 Outlook

OMER S.p.A.: Resilient Fundamentals and Structural Growth Support Buy Rating Despite Softer FY26 Outlook

Intermonte analyst Gianluca Bertuzzo FCA maintained a Buy rating on OMER S.p.a. yesterday and set a price target of €4.70.

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Gianluca Bertuzzo FCA has given his Buy rating due to a combination of factors that underline OMER S.p.A.’s resilience and structural strengths despite a softer near-term outlook. The company closed FY25 with better-than-expected results, driven by the DolceVita project and solid core operations, while maintaining a robust financial profile with significant net cash and healthy free cash flow.

Gianluca Bertuzzo FCA’s rating is also based on OMER’s sizeable backlog, strong positioning with leading train manufacturers, and exposure to a sector characterized by high entry barriers and long‑term structural growth. Although FY26 is expected to see lower revenues and margins due to project phase-outs and inflation, visibility on future orders, supportive industry dynamics, and attractive returns on invested capital justify a target price above the current share price and a continued Buy recommendation.

9WR’s price has also changed moderately for the past six months – from EUR4.550 to EUR3.400, which is a -25.27% drop .

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