(Finance) – EnVent Italia SIM has confirmed the target price to 3.50 euros per share (for a potential upside of 141%) on the stock Convergencesa company listed on Euronext Growth Milan and active in the telecommunications and energy sectors, also reiterating the recommendation “Outperform“, after the release of the main business KPIs for 2023.
“Preliminary data from Convergenze confirms the return to profit of the Energy BU – we read in the research – The recovery is also underlined by the increase in the number of PODs and the surge in volumes sold. The growth path of the TLC BU, continuing strategically with the expansion of the FTTH infrastructure, remained solid.”
“The published data, which slightly exceeds our margin forecasts, reinforce our optimistic outlook on the equity narrative”, it is added.