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IP Interpump SpA News Story

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IndustrialsAdventurousLarge CapFalling Star

Interpump jumps as Equita ups to 'Buy', sees outperformance in Q3 preview

** Shares in Italian hydraulics company Interpump ITPG.MI rise 4.9% at 1010 GMT after Equita upgrades its rating to "Buy" from "Hold", expecting return to positive organic growth in its third-quarter preview

** Shares rise as much as 6.8% during the session and are now trading at its highest level since February 14, when the stock plunged after the release of its 2024 FY results

** The brokerage says the stock now sits at discounted levels, not reflecting recent debt reductions and "excellent" performance in water jetting sales

** "We therefore think it can outperform in the coming months, supported by the improvement in the organic trend, M&A opportunities and the trend of improving margins," Equita says in a note

     ** It moves the stock to "Buy" and raises its PT by 20% to 52 euros

** Shares of Interpump rose 10% in the last month, although the stock is up by only 5.5% YTD​

** Out of 8 analysts that cover Interpump Group, six rate the stock "strong buy" or "buy," ​two rate "hold"

(Reporting by Mirko Miorelli)

((Mirko.miorelli@thomsonreuters.com))

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