(Finance) – Intermonte raised the target price on MON-FRIa company listed on Euronext Milan and active in the air heat exchangers sector, a 25.2 euros per share (from 25 euros) and confirmed the judgement on the title a “Outperform“. The review of the recommendation came after the company disclosed some data relating to the first half of the year, in which it recorded a product turnover of 311.2 million euros, an increase of 38.6% compared to 30 June 2021.
“Revenues for the first half of 2022 showed very strong trendsthanks in particular to the production and sale of components for the ho.re.ca sector, for commercial refrigeration and for heat pumps, a business that should be one of the main growth drivers in the coming years “, write the analysts.
“Although we keep one rather cautious short-term view to be consistent with the current macroeconomic outlook, we are updating our estimates, particularly on 2022, to reflect the very strong product sales of the first half of 2022, and we are still extremely confident about the company’s prospectsas it remains a major beneficiary of huge green investment programs in the US and the EU, “they add.