Domo signs strategic collaboration agreement with AWS for AI solutions
On Thursday, Berenberg reaffirmed its positive stance on SOL SpA (SOL:IM), maintaining a Buy rating and a price target of EUR38.00. The endorsement follows SOL's first-half 2024 performance, which demonstrated sustained sales growth, building upon the momentum observed in the first quarter of the year.
The Home Care sector has been a significant contributor to SOL's revenue and profit, while the Technical Gas division's sales have been impacted by falling energy prices, leading to broader margin expansion.
During the initial six months of 2024, industrial merchant pricing remained strong despite overall weak volumes. Berenberg anticipates a recovery in the Technical Gas segment in the second half of the year, as it is expected to benefit from a more favorable comparison base. Meanwhile, the Home Care business is projected to continue its robust double-digit growth trajectory.
SOL's half-year results have showcased the company's ability to navigate market fluctuations and capitalize on growth opportunities within its diverse business segments. The analyst's outlook suggests confidence in SOL's strategy and the potential for further financial improvements as the year progresses.
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