(Tiper Stock Exchange) – Equity has increased to 6.8 euros per share (from 6.7 euros) the target price on Racing Forcean Italian group active in the motorsport safety equipment sector and listed on Euronext Growth Milan, and maintained the recommendation on the title to “Buy“.
Analysts have raise expectations for 2022-23 and beyond, on the back of the “very strong growth” in turnover recorded in 2022 and progress in executing medium-term growth drivers. For 2023, they increased revenues by +6% to €63m (+7% YoY), EBITDA by +7% to €12.6m (margin +30bps YoY) and Adjusted net profit by + 10% to 6.9 million euro (+9% YoY).
These numbers do not yet explicitly reflect the i option military/defense projectswhich will start contributing at the end of 2024.