Ariston ready to heat the market as GS starts coverage with 'buy'

Ariston Holding

13/02/2023 09:56

** Goldman Sachs initiates Ariston Holding  ARIS.MI  with a
"buy" rating and a target price of 11.50 euros, as it expects
the Italian heating device maker to deliver organic sales growth
above the industry average
    ** The broker says demand for energy-efficient heating
solutions, in which Ariston specialises, is resilient to
near-term economic headwinds and represents a growth opportunity
in the longer term
    ** GS adds Ariston's business mix gives it an advantage over
peers with its 75% concentration in high-efficiency technologies
and its strong presence in Europe, where fiscal support schemes
on heating, ventilation and air conditioning are favourable
    ** Out of six analysts that cover Ariston, four rate the
stock "strong buy"/"buy" and ​two "hold"
 (Reporting by Alberto Chiumento)
 ((alberto.chiumento@thomsonreuters.com))