(Finance) – Intermonte confirmed a € 8.5 per share the target price on The Italian Sea Group (TISG), a global luxury yacht operator listed on Euronext Milan, and has also retained the judgement on the title a “BUY“The update to the recommendation came after the company released its third quarter 2022 results, which analysts describe as” solid “,” on track to meet the high-end guidance “and” above. estimates mainly on profitability “.
The broker also highlights the “very positive tone from the CEO during the call with analysts, in the wake of excellent results and a ‘high visibility on future trends. Everything is proceeding punctually both for core activities and for the development of investments and the ramp-up of activities in the newly acquired shipyards in Viareggio and La Spezia. “The production of Tecnomar for Lamborghini has been confirmed, which will be transferred entirely to La Spezia starting next month, while new events have been announced, including a Capital Market Day in the second part of January.
“Thanks to its positioning among the major players at the top end of the marine industry, its unique and 360-degree business and facilities, as well as its high visibility on potential customers and cash generation, TISG seems in an excellent position to exploit the full potential of a constantly growing sector – reads Intermonte’s research – The clear opportunity to further expand one’s capacity and take advantage of the opportunity of sailing boats through the acquisition of Perini Navi and the new serial projects adds further advantage to the equity story “.