(Finance) – EnVent Italia SIM has confirmed a 5.26 euros per share the target price on Tenax Internationala company listed on Euronext Growth Milan and one of the main producers in Europe of 100% electric machines for street cleaning and urban hygiene, also maintaining the judgment on the title to “Outperform” given the potential upside of 93%. The revision of the recommendation came after the company reported its 2023 results.
Analysts write that the 2023 performance and the backlog, as well as the expected launch of Electra 5.0 and sales from new markets, suggest an upward revision. However, considering the numerous production delays in recent years due to supply chain issues, they maintain sales estimates for 2024-25 and add 2026, taking into account improving profitability and capital dynamics.