Intesa Sanpaolo analyst Davide Rimini maintained a Buy rating on Altea Green Power S.p.A. yesterday and set a price target of €10.50.
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Davide Rimini has given his Buy rating due to a combination of factors that balance weaker short-term results with resilient long-term fundamentals. Although FY25 revenues and EBITDA fell sharply versus both the prior year and guidance, profitability remained high, cash generation was solid, and the company preserved a strong net cash position while maintaining a substantial order backlog and a robust project pipeline.
Rimini acknowledges that timing issues and softer near-term growth have forced a significant downgrade of 2026–27 estimates, with commercialization shifting more toward 2027–28, yet he notes that project quality is improving, especially in advanced permitting, which should sustain attractive margins over time. On this basis, together with a DCF-derived fair value of EUR 10.5 per share that implies material upside and is underpinned by the sizeable domestic BESS pipeline, he reiterates a Buy recommendation despite the near-term earnings reset.
AGP’s price has also changed slightly for the past six months – from EUR6.820 to EUR6.620, which is a -2.93% drop .