De Nora shares power up for second straight day after FY beat
19/02/2025 09:32
** Shares in Industrie De Nora DNR.MI rise as much as
12.4% to their highest price in three months, continuing their
rally from Tuesday, when the Italian electrochemistry group
reported full-year preliminary results above market expectations
** A Milan-based trader says De Nora's stock was very
undervalued and after the surprise publication of the results
it's the right time to buy it
** The company's adjusted EBITDA stood at 157.4 mln euros
($164.50 million), down 8.8% y/y but above a company-provided
consensus of 148 mln euros, with a guidance-beating margin of
18.2%
** "EBITDA also benefited from improved production
efficiency in energy transition" Jefferies analysts write in a
note commenting the results
** "Following a prolonged stock weakness mainly led by
delays and worse sentiment on green hydrogen, we now see genuine
upside," Kepler Cheuvreux notes, which ups its rating to "buy"
from "hold"
** Shares pared some of the initial gains in Wednesday's
session, trading up 9.9% at 0921 GMT and set for their best day
ever
** They had gained 8.9% in the previous session
($1 = 0.9568 euros)
(Enrico Sciacovelli)
((Enrico.sciacovelli@thomsonreuters.com))