Enav up on results, industrial plan expectations
21/03/2024 09:50
** Shares in Italy's Enav ENAV.MI rise around 7% after the
air traffic control company posted solid annual results ahead of
the publication of its industrial plan
** A Milan-based trader says shares rise on the "very
positive" results and expectations for the presentation of the
plan later in the afternoon
** However, the trader adds the stock might reverse course
if the group follows through with the idea of buying airports,
as investors would push back against it
** The group is evaluating M&A opportunities to enter the
airports management market, Enav says in a press release on its
guidelines for the non-regulated market
** It will invest up to 250 million euros by 2026, with
eventual M&A operations that are expected to bring additional
revenues of more than 100 million euros, Enav says
** If gains hold, the stock will see its best day since
March 2021
(Reporting by Federica Urso, Giancarlo Navach)
((Federica.urso@tr.com))