Italy's Avio tops FTSE MIB index after H1 beat on space production momentum
BUZZ-Italy's Avio tops FTSE MIB index after H1 beat on space production momentum ** Shares in Italy's Avio AVI.MI rise 7.7% to the top of Milan's blue-chip index .FTMIB after posting late on Thursday H1 results above estimates thanks to growing launcher demand, while also confirming its current 2026 outlook
** H1 adjusted EBITDA grew 7.3% y/y to €12.2 million ($14.15 million), while net revenues jumped 17.5% to €276.0 million
** "Revenue outperformed forecasts and earnings also benefited from favourable financial items, leading us to raise our 2026-28 earnings estimates," Kepler Cheuvreux says in a note
** However, it lowers its TP by 4% to €30.5 per share, seeing the stock growth already reflected in the price
** Equita also notes revenues beat its estimates by 5%, but sees the reiterated guidance as conservative, given that management stated there was "room for upside" during the Q1 call
** Including Friday's gains, the stock is up 2.8% YTD
($1 = 0.8622 euros)
(Reporting by Enrico Sciacovelli)