Session in marked rise for Piaggio in Piazza Affari, where it shows growth of almost 4% to 3.488 euros. Mediobanca Securities analysts have revised upwards the target price of the two-wheeler group, taking it from 3.4 to 3.6 euros, and confirmed the outperform valuation. In particular, analysts indicate the “robust performance of the market during the first quarter of 2021”. “Despite the limitations to mobility, the interruptions in sales activities and the introduction of new emissions regulations, the European two-wheeler market has got off to a good start and is ready to exceed the levels of 2019”, they explain from Mediobanca, adding that “Growth in the Asia Pacific area should remain strong as in the fourth quarter, supported by Piaggio’s premium niche positioning and investments to expand the distribution network”.
Looking at Piaggio’s accounts for the first quarter of 2021, scheduled for April 29, Mediobanca Securities expects global sales of 344 million euros, with an Ebitda of 47 million.