(Finance) – Intermons He lowered the target price (to 11.50 euros per share by the previous 12.50 euros) and confirmed the recommendation (to Buy) on The Italian Sea Group (TISG), global operator of luxury boating listed on Euronext Milan, in view of the results of the fourth quarter and the entire year (out on March 14).
“We leave room for a positive flow of news that could emerge at any time, while in the meantime we adopt a slightly more conservative position on the numbers – we read in the research – our current estimates include a performance higher than the current corporate guides, which could prove excessively optimistic to the light of Some of the delays we are observing in the acquisition of orders. We are therefore reducing our billed hypotheses, with a consequent cut of the margins, aligning the estimates with the low band of the indications provided. We would like to emphasize that this position, in particular for 2025 and subsequent years, could be made obsolete in the event of a strong acquisition of orders in the first half of 2025. The signature of some large contracts, in particular the renowned 100 -meter Admiral during the negotiation phase and other strong prospects for large yachts, could turn over our hypotheses, but but We cannot completely exclude a more nebulous scenario“.
“Thanks to its positioning among the main actors in the high end of the nautical sector, its business and its unique and complete structures, as well as the high visibility on prospects and generation of cash confirmed in the company objectives, TISG seems very well positioned to fully exploit the potential of a sector in constant growth – underlines Intermonte – The clear prospect of exploiting further opportunities through the brands Perini ships and woodpeckers, as well as new semi -premier projects, add further advantage to history “.