Intermonte analyst Carlo Maritano maintained a Buy rating on Reway Group SpA (RWY – Research Report) on April 2 and set a price target of €8.90.
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Carlo Maritano has given his Buy rating due to a combination of factors that highlight Reway Group SpA’s strong performance and promising future prospects. The company’s exceptional results in the second half of 2024, with a significant increase in both VoP and EBITDA, demonstrate its robust financial health. This growth was largely driven by the successful completion of key projects, particularly those with a year-end deadline, which contributed to a 42% rise in EBITDA, surpassing initial estimates.
Looking ahead, Reway Group is well-positioned to sustain its growth trajectory into 2025, supported by a strong order backlog exceeding €1 billion, which ensures more than four years of turnover. The company’s leading position in the infrastructure refurbishment market, coupled with favorable regulatory changes, provides a solid foundation for continued expansion. Additionally, strategic acquisitions have strengthened its market position, and the updated target price of €8.9 reflects a 28% upside potential, reinforcing the Buy recommendation.