PharmaNutra SpA: Strong Financial Performance and Strategic Expansion Justify Buy Rating

Stifel Nicolaus analyst Daniele Alibrandi reiterated a Buy rating on PharmaNutra SpA (PHN – Research Report) today and set a price target of €88.00.

Daniele Alibrandi has given his Buy rating due to a combination of factors that highlight PharmaNutra SpA’s promising growth trajectory. The company has delivered strong financial results for FY-24, with a notable increase in revenue driven by both domestic and international markets. This growth is expected to continue into 2025, with management projecting low double-digit growth in recurring business and additional contributions from key projects.
Despite anticipated margin constraints due to increased investments, PharmaNutra’s cash flow generation remains robust, allowing for further expansion. The company’s strategic initiatives, including the expansion into the US and strong performance in China, support a positive outlook. With a significant upside to the price target and a compelling growth story within the European SMID Cap space, Alibrandi reaffirms a Buy rating for PharmaNutra SpA.