(CercleFinance.com) – Invest Securities on Tuesday initiated coverage of Airwell, a manufacturer of heating and air conditioning equipment, with a buy opinion and a price target of six euros.
‘Airwell is capitalizing on its established brand in the heat pump market to capture the strong market growth linked to the gradual ban on oil/gas boilers’, underlines Invest, which evokes a file ‘in tune with the times’ .
The design office estimates that this favorable momentum should allow it to reach a turnover of 101 million euros by 2025, in line with its objective of 100 million euros.
Invest Securities, which salutes a company that is ‘low capital intensive’ and ‘already profitable’, praises the merits of its ‘fabless’ model (without factory) which should allow it, according to him, to regain an operating margin (Ebitda) of more by 5%, after years 2022-2023 marked by a temporary acceleration of investments.
Airwell shares have posted a gain of more than 50% since the start of the year.
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