(Finance) – Intesa Sanpaolo has increased a 14.4 euros per share (from the previous 13.7 euros) the target price on NB Auroraa permanent capital vehicle listed on the Euronext MIV Milan segment and focused on investments in unlisted SMEs, confirming the recommendation on the title to “Buy” given the potential upside of 60%.
Analysts write that as of October 2023 the company has surrendered a share of 49.9% of own wallet for a consideration of 144.2 million euros, while it sold at the end of 2023 Dierre Groupfueling the dividend policy of at least 50% of the annual capital gain achieved.
Given that 53% of the portfolio has a maturity greater than 3 years, analysts are confident that this could trigger a recurring mechanism of transfers, which constitutes the basis for the distribution of dividends. The company recently announced the sale of Club del Sole, starting the dividend machine for 2024.
“Management believes that the pipeline of potential acquisitions among the promising Italian mid-caps continues to show some interesting opportunities – we read in the research – The company is also committed to pursuing ESG objectives for the companies in its portfolio”.