Intesa Sanpaolo analyst Alberto Francese maintained a Hold rating on Biesse SPA (0DUK – Research Report) yesterday and set a price target of €9.50.
Alberto Francese has given his Hold rating due to a combination of factors affecting Biesse SPA. The company’s reference market remains weak, with no immediate signs of recovery, compounded by uncertainties from the US trade war. This has led to a cautious approach among customers, particularly in the US and neighboring countries, impacting order intake negatively.
Despite these challenges, Biesse has undertaken efficiency measures, including headcount reductions and industrial efficiency improvements, which have helped mitigate some profitability impacts. However, the overall economic environment remains uncertain, with limited growth in Biesse’s main markets and high borrowing costs. Consequently, Francese has revised the revenue and EBITDA margin estimates downward for FY25, leading to a target price adjustment to EUR 9.5 and a Hold rating on the stock.