(Alliance News) - Following the publication of Franchetti Spa's first-half results, Integrae SIM Spa upgraded its recommendations on the stock, raising its target price to EUR7.20 from EUR7.00, with recommendation unchanged at 'buy' and medium risk.

The company also revised its estimates for both the current year and the coming years. Specifically, Integrae SIM has estimated for Franchetti a current-year value of production at EUR6.6 million and Ebitda of EUR2.6 million, corresponding to a margin of 38.9 percent.

"We are confident that the targets we are trying to achieve are in line with the forecasts we had communicated, and especially those for the future-looking at a developing market-we expect them to follow our expectations," explained Paolo Franchetti, chairman and CEO of Franchetti Spa, who was met during the Next Gems event at the headquarters of Borsa Italiana in Milan, of which Alliance News is media partner.

Despite international uncertainties, the company is not impacted: "Our sector is linked to the security of national transportation networks and prevention, so it escapes international dynamics," Franchetti added.

Looking to the future, "We plan to grow through internal and external avenues. We have already equipped ourselves with professional management that has already contributed in the areas where we felt we had a need and to transit the company. For external lines, we managed to get a shortlist and we are working to materialize the first M&A results as soon as possible."

By Claudia Cavaliere, Alliance News reporter

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