In a report released today, Giorgio Tavolini from Intermonte maintained a Buy rating on DHH S.p.A (DHH – Research Report), with a price target of €33.00.
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Giorgio Tavolini has given his Buy rating due to a combination of factors including DHH S.p.A’s strategic acquisition of Teknonet, which marks the company’s entry into the Managed Service Provider (MSP) market. This acquisition is expected to enhance DHH’s service offerings and create a new revenue stream that aligns with its core focus on business connectivity and cloud computing.
Additionally, the acquisition is projected to result in significant financial benefits, including an 8% increase in revenues for FY25 and 9-10% for FY26-27. The deal is seen as highly synergistic, strengthening DHH’s presence in Italy and supporting its M&A strategy across domestic and Mediterranean markets. The updated target price of €33 reflects a discount to larger peers, suggesting potential upside for investors.