Intermonte analyst Francesco Brilli has maintained their bullish stance on 6QN stock, giving a Buy rating on March 17.
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Francesco Brilli’s rating is based on the Italian Sea Group S.p.A.’s robust performance and strategic positioning in the yachting industry. Despite a slight miss on revenue expectations for FY24, the company maintained strong profitability with an EBITDA margin in line with estimates. The company’s net income was impacted by extraordinary taxes, but its overall financial health remains solid with a manageable net debt level.
The decision to trim guidance reflects a cautious approach due to the timing of new contracts, yet there is optimism about ongoing negotiations worth approximately €1 billion. With a reasonable expectation of a 50% success rate in these negotiations, the company is well-positioned to meet its FY25 guidance. Additionally, the company’s strong market position, potential for growth through its brands, and opportunities in new projects support the Buy rating, with a target price offering significant upside potential.
In another report released on March 17, Kepler Capital also maintained a Buy rating on the stock with a €11.00 price target.
6QN’s price has also changed moderately for the past six months – from EUR8.150 to EUR6.450, which is a -20.86% drop .