Analyst Arianna Terazzi of Intesa Sanpaolo maintained a Hold rating on Pattern S.P.A (PTR – Research Report), with a price target of €5.60.
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Arianna Terazzi’s rating is based on several factors that reflect both the current performance and future challenges faced by Pattern S.P.A. In FY24, the company delivered results that aligned with expectations, supported by strong contributions from UVM, which helped offset declines in the leather goods sector. This performance underscores Pattern’s competitive edge, particularly its focus on high-end luxury, innovation, and compliance with ESG standards, which are increasingly important to its clientele.
Looking ahead to 2025, Terazzi anticipates a more complex market environment, with expected contractions in volume and pressures on margins due to a challenging macroeconomic landscape. Despite these hurdles, Pattern’s strategic focus on engineering and product development positions it well within the luxury segment. However, given the anticipated market difficulties and revised forecasts indicating a contraction in revenue and EBITDA margins, a Hold rating is deemed appropriate as the company navigates these challenges while maintaining its strategic strengths.
In another report released on April 1, Corporate Family Office SIM also downgraded the stock to a Hold with a €6.00 price target.