(Tiper Stock Exchange) – Intesa Sanpaolo confirmed a 3.5 euros per share The target price on Grifala company listed on Euronext Growth Milan and active in the industrial packaging market, also confirming the judgment on the title to “BuyThe broker points out that Grifal posted 2022 results broadly in line with estimates, returning to a margin profile more in line with its historical performance.
It is emphasized that the management has not provided an outlook for 2023. Order intake was described as “robust and growing”.
“We appreciate the completion of the Cologno capacity extension line earlier this year and the confirmation of the strength of demand for cArtù eco-sustainable products – reads the Intesa Sanpaolo research – We estimate that it will represent the majority of the group’s revenue by 2024″.
We also revised our 2023-24 revenues and EBITDA slightly upwards to “a little more cautious on the pre-tax profit linegiven the current environment of higher interest rates”.