Great day for stock market shares Rest, which at the beginning of the afternoon gained 4,8%, to 8,44 euros, achieving one of the best increases in the Ftse Mib. From the market we are witnessing a return of interest in the stock and this morning's statements by the managing director, Gianmario Tondato Da Ruos - who said he was satisfied with the trend shown by the group in Italy, comforted by the traffic numbers, after 4-5 years of decline – they turbocharged the stock.
"Was a better year than the previous ones in Italy, with a positive growth trend – said the manager -. We can say that Italy has a different pace after 4-5 years of decline. Also the weak euro it helps us a lot, because a large part of our revenues are in dollars”. No comment on the spin off hypothesis with Hms Host.
In addition to the optimism of the CEO, support for the stock also comes from a report published this morning by the analysts of Imi Bank following a London roadshow by Autogrill management. IMI confirms the "buy" recommendation with a price target of 10,6 euros.
The macroeconomic context - reads the note to customers - is becoming positive in all key areas of the group: in North America, air traffic remains strong and the cost of food is starting to fall; in Italy road traffic is rebounding and Italians have started going on holiday again as a result of improving economic indicators and favorable weather conditions.
The analysts add that Italy is moving in the right direction for margin expansion towards the targets indicated at the time of the Wdf spin-off and that in North America Autogrill is heading towards achieving the 12% EBITDA margin target.
