Analyst coverage

Recommendation

Firm Name	Analyst	Rating	Target Price
Banca Akros	Andrea de Vita	Buy	13.0
Barclays	Maurice Patrick	Overweight	13.7
Berenberg	Usman Ghazi	Buy	12.0
BofA Securities	David Wright	Buy	16.0
CaixaBank	Alfonso Enriquez	Neutral	12.0
Citi	Georgios Ierodiaconou	Hold	12.5
Deutsche Bank	Roshan Ranjit	Buy	13.0
Equita	Stefano Gamberini	Buy	13.0
Exane BNP Paribas	Jakob Bluestone	Buy	12.2
Goldman Sachs	Andrew Lee	Hold	13.5
Green Street	David Guarino	Buy	N.M.
HSBC	Luigi Minerva	Buy	13.0
IMI	Antonella Frongillo	Buy	13.8
Insight	Robert Crimes	Buy	19.9
Intermonte	Giorgio Tavolini	Buy	13.3
Jefferies	Giles Thorne	Hold	11.0
JP Morgan	Akhil Dattani	Overweight	15.0
Kempen	Lampros Smailis	Hold	13.4
Kepler	Javier Borrachero	Hold	11.0
Mediobanca	Fabio Pavan	Hold	13.0
Morgan Stanley	Nawar Cristini	Neutral	12.5
Morningstar	Javier Correonero	n.m.	12.6
New Street	Ben Rickett	Hold	12.2
ODDO BHF	Antonio Rodríguez Vicens	Outperform	13.7
Santander	Fernando Cordero	Outperform	14.3
UBS	Ondrej Cabejsek	Neutral	12.5
Average			13.3

Consensus

Updated 27 October 2023

		2021A	2022A1	2023E	2026E
Revenue Reported		785	853	965	1.210
EBITDA		715	779	883	1.113
EBITDAaL		520	587	687	920
Recurring FCF		366	491	597	729

WACC and g
WACC	6.4%
g	2.0%

 Sample includes 15 estimates     

   
 The financial information of INWIT has been prepared in accordance with the International Financial Reporting Standards issued by the International Accounting Standards Board and endorsed by the European Union (designated as “IFRS”). INWIT was incorporated on January 14, 2015 and the Tower Business was contributed to it from the Telecom Italia Group effective as of April 1, 2015. The Consensus table shows the consensus data calculated as the arithmetic average of the most recent estimates of Inwit’s key financial data. The consensus data contained in the table have information purposes and do not represent a recommendation or solicitation or invitation to buy, sell or keep Inwit’s financial instruments. These data represent forecasts made by these independent analysts and do not represent Inwit’s management opinions, estimates or forecasts. Inwit is not liable for the completeness and reliability of the consensus data shown in the table.