Safilo jumps after Berenberg starts coverage with 'buy'

Safilo SpA

13/08/2025 09:13

** Shares of Safilo SFLG.MI rise around 7% to their highest price since May 2023 after Berenberg initiated coverage on the Italian eyewear group with a "buy" rating, citing its stronger cash position

** The market is overlooking Safilo's improved balance sheet and its structural margin potential, Berenberg says, setting its target price at 1.62 euros

** It forecasts Safilo's EBITDA margin to reach 12.1% by 2027 as digital investment costs normalise and sales mix improves

** It adds that the company's asset-light model has helped to repair the balance sheet, enabling a new focus on shareholder returns including a recent 18 million euros ($21 million) share buyback programme

** The brokerage notes home brand revenue share has doubled to 50% in a decade and could reach 55–60% by 2030

($1 = 0.8547 euros)

 (Reporting by Laura Contemori)

 ((Laura.contemori@thomsonreuters.com))