Intesa Sanpaolo analyst Davide Rimini maintained a Buy rating on Altea Green Power S.p.A. yesterday and set a price target of €11.90.
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Davide Rimini has given his Buy rating due to a combination of factors influencing Altea Green Power S.p.A.’s performance. Despite a recent downturn in revenue and EBITDA attributed to a temporary slowdown in the Italian BESS market, the company has shown resilience by improving its net financial position and maintaining a strong EBITDA margin. The management’s decision to revise the 2025 guidance downward reflects a realistic adjustment to current market conditions, yet they remain optimistic about long-term growth prospects.
Rimini’s confidence in the company’s future is bolstered by Altea Green Power’s commitment to expanding its renewable asset base and its strategic move towards becoming an Independent Power Producer. The company’s long-term targets for 2028 remain intact, indicating strong growth potential in the BESS sector. Additionally, the revised WACC assumption and updated DCF model still suggest a favorable target price, underscoring the belief in the company’s ability to recover and capitalize on future opportunities.
According to TipRanks, Rimini is a 4-star analyst with an average return of 11.9% and a 58.93% success rate. Rimini covers the Financial sector, focusing on stocks such as Banca Sistema S.p.A., FNM S.p.A., and doValue S.p.A.