Ambitious TargetsThe new 2026-27 targets, while ambitious, appear well within reach, supported by management’s confidence in sustaining growth and successfully executing strategic plans.
Revenue ChallengesManagement remains confident of sustaining top line momentum, expecting some rebound in infrastructure revenues after the -20% decline in 2024, driven by Unifiber and Cliofiber.
Target Price RevisionCapturing a higher equity market risk premium, the target price was revised from €5.5 to €5.2.