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Smart Capital: Strong 2025 Results, Robust Liquidity and NAV Growth Underpin Buy Rating and Upside Potential

Smart Capital: Strong 2025 Results, Robust Liquidity and NAV Growth Underpin Buy Rating and Upside Potential

Intesa Sanpaolo analyst Alberto Francese maintained a Buy rating on Smart Capital S.P.A. yesterday and set a price target of €2.00.

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Alberto Francese has given his Buy rating due to a combination of factors linked to Smart Capital’s strong 2025 results and financial position. The company posted a sharp increase in advisory and financial income, fuelled by profitable exits from several portfolio holdings, which drove net income significantly higher and supported a proposed cash dividend, underscoring earnings quality and shareholder remuneration.

Moreover, total assets and NAV per share rose markedly, reflecting both successful disposals and disciplined portfolio management that left the group with over EUR 25M of consolidated liquidity. This cash buffer, combined with resilient leverage metrics at the portfolio-company level and ongoing deployment into new high‑growth investments, positions Smart Capital to pursue further value‑accretive deals, justifying a positive view on the stock’s upside potential.

In another report released yesterday, Alantra Equities also maintained a Buy rating on the stock with a €1.85 price target.

Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SMCAP in relation to earlier this year.

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