Azimut Holding SpA shares advanced 3.6% to €39.26 on Tuesday, extending gains from the prior close of €37.90 and approaching the 52-week high of €39.55.
The rally followed Deutsche Bank’s upgrade of Azimut to "buy" from "hold," with a 12-month price target raised to €46 from €35. The bank highlighted expectations for double-digit growth in recurring revenues and net profit in the first half of 2026, alongside record assets under management.
Azimut also outlined a capital return strategy, including a share buyback program and a framework targeting the distribution of approximately 25% of its market capitalization over 2026 and 2027. The announcement underscored confidence in the group’s earnings trajectory and cash flow generation.
The broader market provided a neutral backdrop, with major U.S. indices little changed. Italian financial sector stocks benefited from sustained net inflows into the country’s asset management industry, supporting Azimut’s outperformance within the FTSE MIB index.
