Optimistic Long-Term Growth for TraWell Co S.p.A. Despite Short-Term Challenges

In a report released yesterday, Giada Cabrino from Intesa Sanpaolo maintained a Buy rating on TraWell Co S.p.A. (TWL – Research Report), with a price target of €10.00.

Giada Cabrino has given his Buy rating due to a combination of factors that suggest potential growth for TraWell Co S.p.A. Despite a slight decline in FY24 revenues and EBIT, the company is expected to benefit from strategic initiatives and concession renewals, which should start yielding results in FY25. TraWell’s focus on becoming an airport services aggregator and potential M&A activities are anticipated to drive future growth.
Moreover, while the Miami Airport’s performance negatively impacted FY24 results, the overall performance in other key airports, particularly in Italy, France, and Greece, remained strong. The company is well-positioned to capitalize on market opportunities, with new concessions at Naples and Madrid Barajas airports expected to contribute positively. Although FY25 estimates have been revised downward due to Miami’s issues, the long-term outlook remains optimistic, with a potential upside of about 58% based on the new target price of EUR 10, supporting the Buy recommendation.

According to TipRanks, Cabrino is an analyst with an average return of -3.2% and a 46.15% success rate. Cabrino covers the Industrials sector, focusing on stocks such as F.I.L.A. Fabbrica Italiana Lapis ed Affini S.p.A., EdiliziAcrobatica SpA, and Franchi Umberto Marmi SpA.