KT&Partners has started coverage on the stock of Triboo, a company listed on Euronext Milan and Digital Transformation Factory that supports its clients in creating and managing their digital activities worldwide. The target price was set at EUR 2.98 per share (for an upside of 122%), while the rating on the stock is 'Add'. Analysts point out that the company intends to enrich its portfolio of services and brand partners in the coming years while expanding its international presence. In particular, the growth of the Digital business unit should take advantage of up and cross-selling opportunities to existing and new high-potential customers. Analysts expect revenues to grow at a CAGR21-25 of 7% and the Digital business unit to lead the growth (+7% CAGR21-25), contributing about 81% of revenues in 2025. EBITDA is expected to grow at a higher CAGR21-25 of 13%, with EBITDA margin improving in 2022-25 due to: a different revenue mix, with a focus on more profitable services; labor and service costs benefiting from synergies. The financial advisory firm expects Triboo to close 2022 with revenues of EUR 104.9m, EBITDA of EUR 16.9m, and net profit of EUR 3.9m. These figures are expected to increase to EUR 108.4 million, EUR 17 million, and EUR 4.1 million in 2023. The forecast is then for an increase in 2024 to revenues of EUR 117.4 million, EBITDA of EUR 19 million, and net profit of EUR 5.4 million.