Roberto Cingolani (Lapresse)
Leonardo at the top in Piazza Affari since 2017
The title Leonardo back over 13 euros per share, recovering levels it had lost in November 2017 – from the slide due to the profit warning that that year (a problem that has long been behind us) was launched for the helicopter sector – after the promotion arrived on Friday evening from S&P.
For S&P, which raised the credit rating and the debt rating senior not guaranteed from Leonardo to ‘BBB-/A-3’ from ‘BB+/B’, the aerospace, defense and security company “continues to show solid operational performance and its credit metrics are sustainably strengthening to a a level we consider appropriate for an investment grade rating, supported by management’s commitment to maintaining a strong balance sheet.”
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As he writes Handle, S&P also highlights “the solid performance in the first half of 2023 of Leonardo and the outlook confirming higher earnings for the remainder of 2023 and into 2024. The group has recently shown a growing order book, higher revenues, strengthening of profitability and cash flows, and a gradual reduction of debt. We expect these trends to continue with the backlog of Leonardo which will increase to over 40 billion euros, which should support annual revenue growth of around 4%-5% over the period 2023-2024″. The S&P promotion follows the one announced last May by Moody’s.
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