(Telestock) – Equity he confirmed recommendation (Buy) And target price (10.9 euros per share) on the title Technogyma company listed on Euronext Milan and active in the supply of technologies, services and design products for the Fitness and Wellness sector, awaiting the half-yearly report that will be released on August 2, from which a supportive newsflow is expected and fully consistent with FY expectations.
Analysts write that the company appears quite confident about its guidance, also thanks to the visibility provided by the order book both in terms of turnover and margins and the expected returns from the Olympics in terms of brand strength (with the recent inauguration of the new flagship store in Paris, right on the edge of the event).
It is noted that the stock is trading at 19.4x adj. PE 12m fwd ex-cash, vs. 23.5x historical pre-pandemic average (with light debt), “attractive ratings on profits that enjoy good visibility, for a group that boasts strong fundamentals (EBITDA margin at around 19%, net cash at around 10% of market cap, FCF/EBITDA at around 50%) and sustainable growth (particularly thanks to positioning in high-end clubs, exposure to the growing demand for health longevity and prevention, strong positioning in the Middle East)”, the research reads.