Stif: share price rises, analyst initiates buy decision

(CercleFinance.com) - Stif shares are trading sharply higher on Monday morning on the Paris Bourse, buoyed by a positive note from analysts at GreenSome Finance, who see a 79% upside potential for the stock.


Shortly before 12:00 pm, the explosion protection specialist's share price was up by just under 10%, one of the biggest gains on a Paris market up by 0.5%.

In a note published last week but relayed today by the company, GreenSome Finance initiated its monitoring of the stock with a buy recommendation and a price target of 12.7 euros.

The research firm points out that, in addition to its traditional bulk handling and bucket elevator businesses, the family-owned Anjou group has growth drivers (representing around 30% of sales) in dust explosion protection products and BESS (Battery Energy Storage System) protection.

In this field, Stif announced earlier this month that it had won a contract with Tesla to supply explosion-proof panels, equivalent to sales of around 10 million euros for 2024.

Stif, which aims to achieve sales of 80 million euros by 2027, has gained 20% since its IPO on December 20.

Copyright (c) 2024 CercleFinance.com. All rights reserved.