Banca Ifis Equita prevede superamento guidance 2023 utile
Equita expects Banca Ifis to exceed 2023 profit guidance
Equita has confirmed a target price of €21.50 and a Hold recommendation for Banca Ifis, a company active in specialty finance and listed on Euronext STAR Milan, ahead of the publication of fourth-quarter results (scheduled for February 8th).
Analysts expect a strong quarter for the bank, which should be able to exceed the FY23 net profit guidance of €160 million. They also anticipate a positive NII (Net Interest Income) dynamic on a quarterly basis, supported by resilient factoring volumes and favorable seasonality in the NPL division (which should also benefit from the initial contribution of Revalea), partially offset by increased funding costs.
The broker has marginally revised the estimates for 2024-25 to incorporate a slight increase in funding costs and higher inflation costs following the renewal of the banking contract. For 2024-25, they now estimate a net profit of €169-176 million respectively (from €172-180 million), without assuming any release of overlays. The stock trades at a 2024 P/E ratio of 5x, with a dividend yield in the 14% range.
Overall, Equita is optimistic about Banca Ifis’s performance and believes that the company will exceed its profit guidance for 2023. Investors will be closely watching the upcoming quarterly results to see if the bank meets these expectations.
– Target price
– 21,50 euro
– Dividend yield
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