Piazza Affari comes to terms with the reopening. These are the companies belonging to the sectors frozen by the pandemic and that with the new decree prepared by the government can finally get back on track and grind profits. The spotlight of investors is on restaurants, shows, sports and all activities that take place outdoors with an eye on the upcoming summer holidays. A patrol of companies represented on the stock market by small and medium capitalization stocks ready to gain momentum with the incoming flow of news. The national champions, in terms of capitalization and international presence, are Techogym and Autogrill which since the beginning of the year have already highlighted with double-digit increases compared to the index of blue chip, which struggles to exceed the + 10% threshold. The Economy of Corriere della Sera reviewed the reopening securities patrol whose results are shown in the table above.
According to the decree approved on 21 April, the first to reopen will be outdoor bars and restaurants along with cinemas and theaters. A turning point for the catering sector which in Piazza Affari is well represented by Autrogrill which manages a total of 350 restaurants at airports, seasons and motorway networks. The market partly anticipated the good news by pushing the stock higher by more than 20% from the beginning of the year, but compared to the pre-pandemic high, the red still exceeds 25%. Also in the perspective of reopening on a global scale, the company has announced a series of strategic operations: the sale of the US motorway activities for a price of 375 million dollars and a capital increase in option for a maximum amount of 600 million euros. . The exit from the US motorways market was positively judged by the analysts of Intesa Sanpaolo according to which the resources obtained could be used for operations in the segment retail, as identified in the group’s business plan. The judgment on the title Hold (to maintain, in the).
The go to the gyms
The reopening of the gyms should instead make the shareholders of Technogym smile, leader in sports machinery, which is approaching pre-pandemic price levels and has earned more than 15% since the beginning of the year. Equita sim has recently raised the target price confirming the rating Buy. According to experts, as vaccines advance: visibility on the normalization of business of the group. The company appeared confident on the recovery of assets, with a strong order backlog.
Positive opinions also from Banca Akros which raised its opinion on the share from Neutral a Buy, with a target price rising from 9 to 11.5 euros after the 2020 accounts. Mediobanca Securities, on the other hand, has revised the target to 9.1 euros from 8.55 euros following an increase in estimates after 2020 numbers better than expected by the analysts themselves.
Back to the room
The spotlight is also on the cinema sector which has 4 listed companies in Piazza Affari. These include Notorious Pictures, which manages 3 venues for a total of about 20 theaters and sets the goal of reaching 5 million spectators by 2024.. Goals that take into account the effects of the pandemic but which now become more achievable with the reopening. Confidence on the part of Websim analysts: in a very difficult year on a global level, the group has shown the validity of the strategy of diversification of distribution channels, pursued in recent years and the good stability at the cash level also thanks to public contributions. We confirm our very interesting recommendation with a target price of € 2.20. Last but not least football which sees the reopening of the stadiums approaching with important economic benefits of ticket sales. Investors are still at the window: Juventus, Roma and Lazio have been trading in negative territory since the beginning of the year, also reflecting results on the pitch that were not completely satisfactory compared to the previous season.