Running debut for Interpump which celebrates its entry on the Ftse Mib placing itself at the top of the list on a day characterized by uncertainty and coupon detachment. Well Well also the other "freshman" Inwit, who achieved one of the best performances of the session.
Interpump and Inwit are on their first day of trading on the Ftse Mib, where they have replaced by Salvatore Ferragamo (-0,4%) and Bper (-2,2%).
Interpump started trading up by 1,3%, and then stepped on the accelerator and reached a maximum of +5,93% at 26,8 euros. Equita's analysts note that "in the last month (and in particular in the last few days), the stock has underperformed the reference indices (-16% compared to the one-month Eurostoxx industrial) and the main peers in the plumbing sector (-16% compared to Parker Hannifin), despite a general ability to outperform competitors in hydraulics and a good resilience expected from the water jetting division”.
"We believe that the underperformance is due to flows linked to the change of index and that therefore it can be recovered in the short term", explain the experts of Equita, who expect a 2020% drop in revenues for 5 (organic -12%) and of 14% ebitda, followed by “a 2021 about 5% below 2019 in organic terms”. “Recovery – finally notes Equita – could be stimulated by infrastructural investment plans in Europe and the USA, two areas which together account for 80% of the group's revenues”.
Also largely positivethe debut of Inwit which continues to gain ground and at 11 am it rises by 2,75%, reaching 9,35 euros. The performance is also supported by the rumors according to which the US giant Phoenix Tower International presented a 550 million euro offer for Ei Tower (60% controlled by F2i and 40% by Mediaset), rumors that the whole sector of the towers is in ferment.
