(Tiper Stock Exchange) – Equity confirmed the target price at 5.5 euros per share and the Buy recommendation on Garofalo Health Care (GHC), a company listed on Euronext STAR Milan and one of the main operators in the accredited private healthcare sector in Italy, after the company communicated its results for 2022.
Analysts wrote that the fourth quarter of 2022 was slightly better than expected, with a good margin recovery. Management’s indication of the start of the year is supportive and implies a good entry speed in 2023. Equita conservatively confirmed 2023-24 EBITDA, reducing EPS (-6%/-5%) mainly due to higher financial charges.
“We believe that the general context is favourable for GHC, given its strong geographical positioning in the main regions of northern Italy, with the possibility of benefiting from potential increases in healthcare spending to meet waiting lists, as well as the growing demand from private customers – reads the research – Furthermore, M&A remains an important lever of growth with one firepower of 100 million“.
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