(Finance) – Intesa Sanpaolo he lowered to 26.2 euros per share (from 30 euros) on target price up First Capitala financial holding company listed on Euronext Growth Milan and specialized in Private Investments investments in Public Equity and Private Equity, improving however the judgement on the title a “BuyThe review of the recommendation came after the company approved its 2021 financial statements, which closed with the best economic result in its history, driven by the solid rebound of the portfolio. Analysts note that the value of the portfolio has grown by more than 55% in 2021, outperforming the FTSE Italia All-Share index, which grew by 23.7%.
According to the company, 2022 will be a difficult year, with the prospect of lower growth in Europe and Italy, as well as the probable risk of sliding towards stagflation. “First Capital therefore believes that being able to confirm the results achieved in 2021 in terms of NAV in 2022 can be considered a success – writes Intesa Sanpaolo – Having said that, strategic assets have slightly outperformed the market since the beginning of the year and we report marginal exposure to Russia-Ukraine and to commodities of the majority of the portfolio, which focuses on business services. Given the current market scenario, management seems prudent, but we do not rule out further investments in the coming months“.