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Investing.com - UBS initiated coverage on Italian luxury yacht builder Ferretti SPA (BIT:YACHT) with a Buy rating and a price target of EUR4.35 on Friday.
The investment bank cited three key reasons for its positive outlook, including exposure to the luxury yacht industry where UBS sees more sustainable trends following the post-COVID boom.
UBS highlighted Ferretti’s position as market leader in the most profitable segments of the yacht industry, which supports both revenue and profit growth potential.
The firm also noted that Ferretti’s strong cash generation underpins shareholder returns and creates potential for mergers and acquisitions activity.
While acknowledging that Ferretti’s ownership structure creates some uncertainty, UBS stated that current market concerns over near-term trends are more than reflected in the company’s valuation, making this "an attractive entry point" for investors.
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