Alberto Francese, an analyst from Intesa Sanpaolo, maintained the Hold rating on Zignago Vetro SpA (0NNC – Research Report). The associated price target is €11.80.
Alberto Francese has given his Hold rating due to a combination of factors impacting Zignago Vetro SpA. The company experienced a decline in FY24 revenues by 12%, with a significant contraction in EBITDA, which fell by 38.1% compared to the previous year. This was largely due to a weak scenario for volumes and prices, particularly in the F&B sector, and a non-optimal use of capacity.
Despite these challenges, there is optimism for a recovery in volumes, especially in the cosmetics and perfumery sectors, which should contribute to market normalization in 2025. The company is expected to leverage its increased production capacity and flexibility, alongside maintaining a strong EBITDA margin. However, given the mixed market conditions and potential consumer confidence issues due to geopolitical tensions, Francese maintains a cautious outlook, leading to the Hold rating.
Based on the recent corporate insider activity of 36 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 0NNC in relation to earlier this year.