(Finance) – Akros Bank has the target price was confirmed at 30 euro per share on Cembrea company listed on Euronext STAR Milan and one of the leading European manufacturers of electrical connectors and tools for their installation, cutting the rating on the title to “Hold” from “Buy”. Yesterday the company revealed that it had obtained non-repayable grants for the expansion of its production capacity, motivated by the need to satisfy the growing market demands, both in terms of volumes and timing.
Not considering the 4.9 million non-repayable contributions, the capex remaining of 37 million euros over the three years is slightly higher than Banca Akros’ forecast of 32 million euros.
Analysts point out that the announcement is good news, even if it has a modest impact. As the shares have recovered well since the low reached in October 2022, reaching the target pricehave chosen to cut the rating on the title.
Meanwhile, it is essentially stable compared to the previous session Cembrewhich stands at 30.4 euros.