Equita starts Officina Stellare at 'hold' as it begins growth path in space sector

Leonardo

21/09/2026 09:56

** Equita initiates its coverage on Officina Stellare OS.MI with a "hold" rating and a €41 ($47.05) PT, seeing the optical instrumentation specialist poised for expansion in a thriving aerospace sector
** Officina Stellare merged with Global Aerospace Technologies Group in June, a deal designed to combine complementary technologies, strengthen vertical integration and broaden the group's offering
** Equita says the strong growth of its reference markets — mainly space and defence — and its solid pro-forma order backlog of €192 million, provide high visibility on multi-year double-digit growth 
** Among the main growth drivers, the broker identifies a licensing deal with US firm Skyloom and a contract from Leonardo LDOF.MI for optical communications terminals — with the latter potentially generating over €70 million annually by 2031
** Equita opts for a "hold" rating due to execution risks on the group's growth path, including M&A and a difficult comparison with other larger listed companies in the space sector
** The stock rises 9.1% on Monday, bringing its YTD gains to over 61%
     
($1 = 0.8715 euros)

(Reporting by Enrico Sciacovelli)
((Enrico.sciacovelli@thomsonreuters.com))