Coverage

Research Coverage on the Equita stock (EQUI:MI)

As of today, the analysts of Intesa Sanpaolo (UBI Banca) covers the Equita stock. Find below the latest available equity research. The research is also available on the Borsa Italiana official website.

last update: 22 march 2022

Target Price: €4.7 (from €4.8)

recommendation: Buy

Strong FY21 Results and New Equita 2024 Business Plan

"In 2021 Equita reported EUR 90.4M revenues and EUR 21.5M net profit, surpassing the 2022 targets of EUR 75M and EUR 15M one year in advance. We consider the new Equita 2024 Business Plan as overall feasible, especially with reference to the shareholders’ remuneration target: we expect a cumulated 2022E-24E dividend distribution of more than EUR 50M, with an average dividend yield of 10% at the current share price. We reiterate our positive view"

"We set a new target price of EUR 4.7/share. Given an upside potential of approx. 25%, we confirm our BUY rating. Our positive view relies on: i) a sound growth profile; and ii) a solid balance sheet, allowing both a rewarding dividend policy (10% average 2022-24E yield at the current share price) and the option of accelerating the growth trajectory by deploying the excess capital through potential acquisitions"