(Finance) – EnVent Capital Markets has coverage started on the title RES – Ethical Sustainable Recovery, a company from Molise listed on Euronext Growth Milan (EGM) and active in the circular economy and environmental sustainability sector. The target price was set at €5.61 per share (for a potential upside of around 22%), while the rating on the stock is “Outperform“. The company was listed on 4 May 2023 with a placement price of 4 euros per share.
Analysts say RES has built over time lasting relationships with local authorities and sector operators. The investments in plastic recycling and energy plants should, according to their models, generate a quantum leap in revenues and a solid profitability as a return on investment.
EnVent estimates for 2023 revenues for 22.6 million euros, a EBITDA of 5.9 million euros and a useful of 2.6 million euros. These figures are expected to improve in 2024 to €35.9 million, €11.3 million and €5.9 million, respectively. The expectations for 2025 are revenues of 42.5 million euros, an EBITDA of 14.7 million euros and a profit of 7.8 million euros.