(Finance) – Lively session for Fine Foods & Pharmaceuticals NTM, protagonist of an upward extension with a progress of 2.35%. The title was also supported by the positive opinion of the analysts of Intermonte.
The results for the first quarter of 2024 were judged positively: revenues essentially in line and adjusted EBITDA and net profit better than estimates by 11%/15%. Intermonte therefore confirmed the current estimates for the fiscal year 2024 (+7.7% growth in turnover, 12% margin), considering that the first quarter results would imply a growth in turnover of 10.4% and a margin of 11.5% for the rest of the year, which is believed to be comfortably achieved, especially if energy prices remain under control.
The analysts therefore confirmed their opinion Outperform on the Fine Foods title and a Target price of 12 euros, considering that the results of the first quarter have provided greater visibility on the progression of margins. After just one quarter, however, it may be too early to call this exceptional profitability structural for the future and therefore the confirmation of the current consensus should include a certain degree of flexibility, based on the visibility of the coming quarters.