Polish broker Ipopema offers a target price of RON 0.32 for IMPACT shares, with an upside of 40%

Polish analysts at Ipopema Securities analyzed the H1/2024 financial statements of real estate developer Impact Developer & Contractor (stock symbol IMP) and offered a target price of RON 0.32 for the shares, implying a potential yield of about 40% at the current market price.

In the first half of the year, IMPACT's revenues increased by 65%, to 98 mln. lei, as a result of more expensive sales from the residential portfolio, as well as the expansion of the activity of the companies in the group.

"The company reported results broadly in line with our expectations. The sales pace was positive, but the gross margin deteriorated by 2.4 pp compared to the previous quarter, while the operating margin deteriorated by 0.9 pp. In our opinion, the third quarter should bring a new net loss, while the fourth quarter could finally be the one that will break the recent trend, as the problem of the stock of unsold apartments will be solved by then," explains Ipopema.

Source: zf.ro