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Reply: Buy Rating Reiterated as Solid Start to 2026 and AI Strategy Support Upside with Price Target Unchanged at $187

Intermonte analyst Andrea Randone maintained a Buy rating on Reply SPA today and set a price target of €187.00.

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Andrea Randone has given his Buy rating due to a combination of factors, including Reply’s solid start to 2026 and its strong strategic positioning in advanced IT consulting. The company delivered better-than-expected organic revenue growth in the first quarter, maintained healthy profitability, and generated higher-than-forecast net cash, underscoring both operational strength and financial flexibility.

Randone also highlights the firm’s agile, AI-focused business model, exemplified by initiatives like Reply Model Factory, which enhance clients’ ability to build proprietary AI solutions and should sustain above-market growth. Additionally, ongoing bolt-on acquisitions in key geographies such as the U.S. and Germany, combined with a robust cash position and an unchanged price target of $187, support the view that the stock offers attractive upside potential.

In another report released today, UBS also assigned a Buy rating to the stock with a €159.00 price target.

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