(Tiper Stock Exchange) – Intesa Sanpaolo has lowered to 29.8 euros per share (from 31.4 euros) the target price on Medicala company active in the biomedical and MedTech sector and listed on Euronext Growth Milan, increasing its recommendation on the title to “Add” from “Hold”.
The company has announced in recent days that it closed 2022 with a sales consolidated value of 50.9 million euros (up 16% compared to the 43.8 million euros achieved in 2021) and a net financial position consolidated negative equal to 4.3 million euro.
“Although 2022 sales were slightly below our estimates, we expect the Tecnoideal, Acute & Aferesis and Water divisions to lead the organic growth in 2023“, write the analysts.
In terms of EBITDA margin 2023-24, the expectations of an improvement compared to 2022 are confirmed, driven by the growth in sales of the most profitable divisions (Acqua, Tecnoideal and A&A) and by the better absorption of fixed costs. The forecasts are also unchanged EBITDA 2022-24, assuming there are no major supply chain disruptions affecting production activity.
“Let’s get positive about the stockwhich we believe is already discounting the difficult scenario of 2022″, reads the research.
Meanwhile, it is essentially stable compared to the previous session MedicalThat stands at 24 euros. At an operational level, a session marked by uncertainty is expected with the first resistance seen at 24.58, while the most immediate support area is estimated at 22.83.