Giada Cabrino, an analyst from Intesa Sanpaolo, maintained the Buy rating on TraWell Co S.p.A.. The associated price target was lowered to €8.70.
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Giada Cabrino has given her Buy rating due to a combination of factors that highlight TraWell Co S.p.A.’s strategic positioning and growth potential. The company’s industrial plan for 2025-2029 emphasizes resilient organic growth, aiming for a 35% EBITDA margin by 2029, supported by a 3% sales CAGR. This growth is expected to be driven by innovation, operational efficiency, and sustainability initiatives, alongside a significant improvement in net financial position and the introduction of dividend distributions starting in 2028.
TraWell’s strong market position as the second-largest operator in a fragmented sector provides ample opportunities for expansion. The company’s presence in 43 airports across 12 countries, with a focus on strengthening its leadership in Europe and the US, underscores its strategic advantage. The plan to enhance digital and value-added services, along with the gradual introduction of recycled materials, aligns with sustainability trends. These factors, combined with a conservative yet achievable financial outlook, support the Buy rating with a target price of EUR 8.7.