(Finance) – TP ICAP Midcap confirmed the target price (2.5 euros per share) and the judgment (Buy) on Services Italy, listed on Euronext STAR Milan and leader in the sector of integrated rental, washing and sterilization services for textile materials and surgical instruments for hospital facilities. The revised recommendation came after the company disclosed i results for the first half of 2023which closed with consolidated revenues of 143.8 million euros and a consolidated net result of 2.9 million euros.
“Servizi Italia has published good results in the first half, confirming that the planets are aligning and that the group’s margins are benefiting”, commented the analysts.
TP ICAP Midcap reminds that that the group was also very active during the first half of the year: launch of the sterilization business in São Paulo; launch of a treasury share purchase plan equal to 20% of the market capitalisation; turnover of its business portfolio in July with the sale of the non-consolidated Albanian company branch and the acquisition of 33% of the Italian Technoconsulting.