Intermonte analyst Giorgio Tavolini maintained a Buy rating on PharmaNutra SpA today and set a price target of €88.00.
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Giorgio Tavolini has given his Buy rating due to a combination of factors that reinforce PharmaNutra’s long‑term growth profile and upside potential. The company delivered solid preliminary FY25 sales, with double‑digit organic growth overall, driven by resilient performance in Italy and even stronger expansion in international markets and new business units, particularly in the US, China and Nutrition. The product portfolio continues to perform well, with flagship brands and recent launches scaling successfully, confirming both brand strength and strong execution in new product introductions. Management’s decision to refine the Italian go‑to‑market model from 2026, shifting toward a more direct presence in pharmacies and intensified scientific promotion, is expected to further support top‑line momentum and gradually improve profitability.
Giorgio Tavolini’s rating is based on upgraded forecasts that now assume sustained mid‑teens revenue growth through 2028 and a steady increase in margins, despite near‑term investments weighing slightly on profitability and cash generation. On the back of the revised estimates and a rolled‑forward DCF, he raises the target price to €88 per share, implying around 50% upside from current levels, with additional optionality if ambitious US and China targets are achieved, which could push the valuation well above €100 per share over the plan horizon. In relative terms, the stock still trades at a discount to a key peer like BioGaia on both EV/EBITDA and P/E multiples, suggesting that the market is not fully pricing in PharmaNutra’s growth and margin potential. Overall, the combination of strong recent execution, attractive international scalability, improving visibility on strategic initiatives and a compelling valuation underpins Tavolini’s reiterated Buy recommendation.
According to TipRanks, Tavolini is ranked #4369 out of 11984 analysts.
In another report released today, TipRanks – Google also reiterated a Buy rating on the stock with a €68.00 price target.