(Tiper Stock Exchange) – Intesa Sanpaolo has increased to 26.7 euros per share (from 25.5 euros) the target price on BuildingAcrobaticsa company specialized in double safety rope construction works and listed on Euronext Growth Milan, confirming the judgment on the title to “BuyThe revised recommendation came after the company reported its 2022 results, disclosed its 51% acquisition of Enigma and the value of contracts signed in the first quarter of 2023.
“After the extra benefits related to tax incentives in Italy, which supported the strong expansion of the sector in 2021/22, we expect EdiliziAcrobatica to benefit from the greater contribution from the foreign branches and from the newly acquired Enigma Capitala Dubai-based company,” the research reads.
Italy should continue to grow, albeit at a slower pace than in the last 2 years. Intesa Sanpaolo assumes that Enigma contributes 14 million euros to sales 2024 with an EBITDA margin of 22%.