(Finance) – Great day for Maire Tecnimontwhich is recording a 9.58% increase on the stock market, in the wake of theJefferies starts coverage with a “buy”. What triggers purchases is above all the indication of a Target Price rather high at 10 euros per share, which offers an upside potential of approximately 40%.
Analysts point out that the strong growth of the “traditional” portfolio and the momentum towards energy transition thanks to recent acquisitions are the driving forces behind the ten-year strategic plan, which aims to bring EBITDA to 1 billion euros and guarantee a dividend that offers one of the highest yields in the sector. Added to this is the fact that the stock is trading at a discount to its competitors.
Comparing the performance of the stock with the FTSE Italia All-Shareon a weekly basis, it is noted that the group operating in Licensing, Engineering Services, Procurement & Construction maintains positive relative strength compared to the index, demonstrating greater appreciation by investors compared to the index itself (weekly performance +8.83%, compared to +2.37% of theItalian stock index).
The technical framework of Maire Tecnimont suggests an extension of the bearish line towards the floor at 7.533 Euro with a ceiling represented by the 8.088 area. The forecasts are for an extension of the negative phase to the test of new lows identified at 7.177.