(Tiper Stock Exchange) – Equity has cut to 10.5 euros per share (-2%) the target price on Ariston Grouplisted on Euronext Milan and active in renewable and high-efficiency solutions for water and space heating, confirming the recommendation on the title to “BuyThe revised judgment precedes the release of Q2 2023 results, which are scheduled for August 3.
Analysts expect one deceleration of organic growth (from +2.5% in 1Q to -2.5% in 2Q), mainly due to the full contribution of the decline in Italy and the slowdown of some European markets (France in primis), and a good result in terms of margins (margins at 9.7% from 9.6% in 1Q23 and +200 bp Y/Y), mainly due to price resilience in a context of reduction of some cost inputs.
Equita therefore confirmed theEPS Adjusted 2023 (but with a different mix) and limited the value of 2024 (-2%).