The expert view, PUBLISHED:
7 hours ago
Estimated reading time: 4 minutes
by Davide Pantaleo
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Ftse Mib Interpump Snam Terna
The Ftse Mib goes back after yesterday’s rebound, but no alarms from analysts: here’s what to expect now. A stock to buy on fundamentals.
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The rebound achieved yesterday by the European stock exchanges after the tensions of last Friday, was short-lived, given that after a few hours the minus sign returned to the lists.
European stock exchanges in clao except London
At the moment only the Ftse100 goes up against the trend, with an increase of about $ 0.2%, while the Cac40 and Dax30 fall by 0.07% and 0.24%.
It falls further behind than the other Piazza Affari where the Ftse Mib shows a decline of 0.59%, almost entirely canceling the recovery of the eve.
Yesterday after a weak start, not only Piazza Affari, but also the other European stock exchanges turned positive, also supported by the performance of Wall Street in the afternoon.
Ftse Mib down after the recovery on the eve
The Ftse Mib in particular reacted, fully recovering the impact linked to the detachment of the dividend of some important stocks, such as Terna and Snam.
Equita SIM analysts point out that falling interest rates benefit the utilities sector, and there is slight pressure on commodity-related stocks.
The latter were affected by the change of attitude on the part of the Chinese authorities, which for some weeks had been committed to containing in some way the increase in the price of industrial metals.
Ftse Mib: stabilization possible, but view remains positive
The fears of less accommodative statements by the FED and a slowdown in growth in the short term, due to supply constraints and price increases, according to Equita SIM could lead to a phase of stabilization of the markets in the coming weeks, after the strong performance from beginning of the year.
According to the experts, these are temporary elements, which therefore do not change their basic view which remains constructive, especially on Italy.
Ftse Mib: Interpump is to be bought on fundamentals
Among the blue chips, Equita SIM analysts report that fundamental analysis leads them to recommend the purchase of Interpump.
In short, pundits maintain their positive stance on the stock, based on both organic and external growth potential.
In detail, the Milanese SIM remains confident in the sustainability of a solid organic top-line in 2021 and 2022, given a favorable macroeconomic scenario, supported by low interest rates and infrastructure spending carried out by governments in Europe and North America, markets key for Interpump.
Furthermore, analysts positively assess the growth opportunities brought by Interpump’s recent acquisition of Danfoss’ White Drive Motors & Steering (WD) business unit.
In addition, the shares are traded at 2022-2023 adjusted price-earnings multiples of 22-21 times and at an enterprise value / EBITDA multiple of 13-12 times.
Analysts think these multiples do not fully reflect the company’s quality, high margins, free cash flow generation, low leverage and attractive M&A opportunities.
The idea is that the acquisition of Danfoss’ White Drive Motors & Steering business unit does not exhaust Interpump’s M&A ambitions.
Thus confirmed a bullish view on the stock, with a “buy” recommendation and a target price of 55 euros.
Trend-online Deputy Director, born in 1978.
After completing his studies at the Classical High School “Antonio Calamo” of Ostuni I entered the world of economics.
For about twenty years I have been dealing with Stock Exchange and Finance. After having worked as a financial promoter for several years, in 2005 I joined the Trend-online team as an editor, to later become deputy director of the cylinder head. Among other countless activities, I take care of maintaining relationships with all the experts, analysts and traders, consulted daily by Trend-online.
My motto is? “Life is like a mirror, if you look at it smiling it will smile at you”.