Airwell's share price climbed on Tuesday in the wake of a note from Invest Securities, which today initiated coverage of the stock with a buy opinion and a price target of six euros.

At around 12.15pm, the heating and air conditioning equipment manufacturer's share price was up 3.5%, while the CAC index of small and mid-cap companies was down 0.3% at the same time.

The share is now up over 50% since the start of the year.

'Airwell is capitalizing on its established brand in the heat pump market to capture the strong market growth linked to the gradual ban on oil/gas-fired boilers', points out Invest, which refers to the issue as being 'in tune with the times'.

The research firm estimates that this favorable dynamic should enable the company to achieve sales of 101 million euros by 2025, in line with its target of 100 million euros.

Invest Securities, which hails the company as "low capital-intensive" and "already profitable", praises the merits of its "fabless" model, which it believes should enable it to return to an operating margin (Ebitda) of over 5%, after the years 2022-2023 marked by a temporary acceleration in investments.

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