In a report released yesterday, Andrea Randone from Intermonte maintained a Buy rating on Notorious Pictures S.p.A., with a price target of €1.00.
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Andrea Randone has given his Buy rating due to a combination of factors including Notorious Pictures S.p.A.’s strong performance in the first half of 2025, which saw a 5% year-over-year increase in group revenues. This growth was driven by a significant rise in cinema business and production revenues, despite a decline in distribution revenues. The company’s ability to maintain a positive EBITDA growth of 14% year-over-year, amidst challenges such as delays in tax credit law applications, showcases its operational efficiency and strategic adaptability.
Furthermore, Andrea Randone highlights the company’s robust pipeline for 2026, which positions it well to capitalize on potential market recovery. The diversification of Notorious Pictures’ activities across various segments and its prudent management approach have allowed it to remain resilient in a challenging industry environment. With expectations of improved market conditions and a strong lineup of upcoming projects, the company is poised for significant upside potential, justifying the Buy rating with a target price of Eu1.00.