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Leonardo shares, analysts raise target price after the quarterly report. What to expect on the stock market?

Leonardo queen of the Ftse Mib at the end of the eighth.
The shares rose by 4.68% on Piazza Affari, after the release of the quarterly results.
What to expect on the stock market? Revenues increased by 4.8%, reaching 10.26 billion euros in the first nine months of 2023.
Ebita increased by 6.3%, reaching 644 million euros.
Orders rose 13.3%, indicating strong demand for Leonardo's products and services.
The CEO, Roberto Cingolani, underlined the priority of reducing costs, participating in new international alliances and developing cyber and space security.
During the analyst call, several ongoing negotiations emerged, including a possible joint venture with Thales to modify current joint ventures in space.
The leading defense company is preparing to build the new sixth generation fighter aircraft, called Tempest, through a joint venture between Italy, Japan and the United Kingdom, with the aim of making it operational by 2035.
Intermonte analysts maintain an "outperform" rating on the stock, with a target price of 15 euros, while Equita raised its target to 16.1 euros, signaling a potential upside of 8%.
Banca Akros is more cautious, considering the results in line with expectations and suggesting buying on weakness in the event of future corrections.
With the approval of the quarterly results, the Board of Directors confirmed the solidity of the business and announced the debt reduction of 546 million euros compared to the previous year.
CEO Roberto Cingolani said the company is implementing digitalization to strengthen competitiveness, integrating new growth areas in cyber and space.
The next business plan, scheduled for March, will be presented together with the overall results for 2023, highlighting Leonardo's continued expansion and innovation strategy.
Before seeing the new strategy with a Turbo Unlimited Certificates from BNP Paribas, let's analyze the support and resistance levels according to the technical analysis.
Leonardo technical analysis: operational strategies Leonardo rose on Friday to 14.88 euros, the highest level since 2017.
The publication of the quarterly data gave the stock the push to once again attack the upper side of the channel which rises from the lows of November 2022, at 14.85-14.90 euros.
A clear victory over this obstacle, repeatedly tested since last July, would allow the rally to be extended towards the target of around 16.10, the top of 2017, and possibly beyond, up to around 17 euros.
On the contrary, if the 14.90 area were to repel the attack of the buyers, drops towards the base of the channel at around 12.50 are expected, strategic support in the medium term Leonardo, weekly chart.
Source: TeleTrader Below we summarize the levels to monitor for our strategy: Trigger: pull back to 12.80 euros First target: 16.10 euros Second target: 17 euros Stop loss: 12.40 euros Leonardo: long strategy with Turbos Unlimited Long Certificate by Bnp Paribas In the hypothesis of a "long" strategy on Leonardo we intervene in the event of a pull back to 12.80 euros for targets at 16.10 and 17 euros, with a stop loss located at 12.40 euros.
For this strategy, the Bnp Paribas Turbo Long certificate with ISIN NLBNPIT1T1F7 leverage 4.30 is suitable.

Author: Hermes A.I.

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