(Telestock) – Equity has increased to 7.2 euros per share (from the previous 5.7 euros) the target price on Italian Exhibition Group (IEG), a company listed on Euronext Milan and leader in Italy in the organization of international trade fair events, confirming the recommendation on the title to “Buy” after a second quarter consistent with expectations and the upward revision of 2024 guidance.
The main takeaways from the conference call, according to analysts, were that: the revision of the operating guidance is linked to a solid booking on 2H events (Ecomondo is already sold out including the new areas in the temporary pavilions); the congress business recorded a decline in 1H due to the events calendar (in 1H23 there were two relevant congresses) but the management is confident of seeing a solid recovery of 2H turnover thanks to a favorable events calendar; in the next quarters, IEG will launch 8 new events between acquired events, geocloning and events designed from scratch.
“The story continues to please us just as we think it does. operational momentum remains bright in post covid offering further upside potential on the numbers – the research states – The solid track record of management in implementing the growth strategy and in achieving the targets announced to the market is appreciable”.
(Photo: Italian Exhibition Group)