(Finance) – TP ICAP Midcap confirmed target price to 7 euros per share e judgment to “Buy” on AbitareIna Milanese company leader in residential development and listed on Euronext STAR Milan, given the potential upside of 42%, despite the disappointing half-yearly report which triggered heavy sales on the stock yesterday.
The analysts They don’t say they’re surprised by the weak data, as the reference period (31 March) was heavily penalized by the administrative problems linked to the start of construction of the group’s many new projects. “Once again the situation is far from alarming as delays simply remain,” it is emphasised.
As for the prospects, the revenue visibility in 2024 is logically limited for now as it depends entirely on the decisions of the authorities for the authorization of five projects currently in the marketing phase. TP ICAP Midcap will therefore wait for the third quarter results before potentially changing its estimates (which had already been significantly lowered following the call on the annual financial statements).
“However, it is already established that 2024 will be a transition period for the group – we read in the research – On a commercial level, although the group has temporarily suspended marketing due to uncertainty about the times of authorization for the works and start of the project, the management has indicated that it does not encounter commercial difficulties despite the context , a sign of the relevance of its positioning”.