(Finance) – Intermonte he lowered the target price (to 5.00 euros per share from 5.20 euros) and confirmed the recommendation (Outperform) on the title Omera company listed on Euronext Growth Milan and active in the sector of components and interior furnishings for railway transport vehicles.
Analysts write that Omer scored a first half of 2024 strong and in line with expectationswith growth supported by higher production volumes in Italian and US factories, only partially offset by price revisions and cost inflation.
In terms of salesthe broker has confirmed the hypothesis of 75 million euros for the year with similar, albeit slower, volume growth in 2H compared to 1H (+5% compared to +19%). This is due to a tougher comparison base in the US (1H23 was close to zero while production resumed in 2H23) and a normalization of growth at Italian plants, particularly by Alstomafter the 1H push ahead of the Olympics.
Furthermore, it expects prices to show similar trends with lower revisions recognized compared to last year. In particular, it expects that EBITDA will still show positive growth for the year at +2% year-on-year to €15.5 million, although lower than previously forecast (€16.8 million prev.) in half of ahigher overall cost inflation. Overall, lowers EPS estimate by -7% due to the trends just mentioned, only partially compensated by the better net financial income allowed by the lesser use of factoring.