(Finance) – TP ICAP Midcap increased the target price (to 18.3 euros per share from 18 euros, potential upside of 74%) and confirmed the recommendation (to Buy) on the title Intredtelecommunications operator listed on Euronext Growth Milan, after the upward revision of the EPS estimates (24/25E/26E +2%/+1%/+1%) due to a prudent positive revision of the EBITDA margin, effective and concrete progress in activation of users of tenders 1 and 2, and a positive potential contribution revised to the increase in the data center segment.
On the data center front, analysts believe that there may be a way to achieve these goals need to increase capex slightly (TPICAP capex 25/26 21/22 million euros vs. strategic plan 20 million euros 25/26) which can negatively influence cash flow. Capex in the last 4 years for Intred has been above 110 million euros (average of around 28 million euros).