Equita starts Officina Stellare at 'hold' as it begins growth path in space sector

Equita initiated coverage on Officina Stellare with a "hold" rating and a €41 ($47.05) price target. The broker sees the optical instrumentation specialist, which merged with Global Aerospace Technologies Group in June, poised for expansion in a thriving aerospace sector, citing strong growth in space and defense markets and a pro-forma order backlog of €192 million. Key growth drivers include a licensing deal with Skyloom and a potential €70 million+ annual contract from Leonardo for optical communications terminals by 2031. Equita cited execution risks on the group's growth path, including