(Finance) – EnVent Capital Markets increased a 2.74 euros per share (from € 2.22) on target price on DBA Groupa company listed on Euronext Growth Milan and specialized in network connectivity and solutions to support the life cycle of infrastructures, and confirmed the judgement on the title a “Outperform“The review of the recommendation came after the company approved the 2022 budget and reviewed the preliminary consolidated financial data for 2021.
Analysts point out that key figures for 2021 show revenues higher than their estimates (79.1 million euros against 72 million euros), EBITDA slightly better (€ 6.1 million versus € 5 million) e net debt better (10.3 million euros against 13.9 million euros).
“We note that, based on the 2021 performance and as long as the debt reduction will be confirmed within the balance sheet dynamics, DBA would have outperformed short-term forecasts, which confirms and strengthens our latest rating, “stresses EnVent.