| Intermonte SIM | Andrea Randone
Francois Robillard | andrea.randone@intermonte.it
francois.robillard@intermonte.it | September 16, 2020 | Cellularline - Time for recovery and MA execution after a difficult 2Q | BUY | 7.30 |
| BANCA IMI | Gabriele Antonio Berti | gabriele.berti@intesasanpaolo.com | September 16, 2020 | Cellularline - Acquisition of Worldconnect | BUY | 9.40 |
| Banca Akros | Andrea Bonfà | andrea.bonfa@bancaakros.it | September 15, 2020 | Cellularline - DVD and 2021e sales recovery key to equity story | Accumulate | 6.00 |
| Mediobanca | Marco Vitale
Giuseppe Grimaldi | marco.vitale@mediobanca.com
giuseppe.grimaldi@mediobanca.com | September 15, 2020 | Cellularline - Need to rebalance sales channel mix | Neutral | 6.00 |
| BANCA IMI | Gabriele Antonio Berti | gabriele.berti@intesasanpaolo.com | May 19, 2020 | Cellularline - Q1 20 Results | BUY | 9.10 |
| Banca Akros | Andrea Bonfà | andrea.bonfa@bancaakros.it | May 15, 2020 | Cellularline - Q120 cc feedbacks, growth opportunities are there | BUY | 8.00 |
| Mediobanca | Marco Vitale
Giuseppe Grimaldi | marco.vitale@mediobanca.com
giuseppe.grimaldi@mediobanca.com | May 15, 2020 | Cellularline - Q1-Preparing-for-Phase-2 | Outperform | 6.50 |
| Intermonte SIM | Andrea Randone
Francois Robillard | andrea.randone@intermonte.it
francois.robillard@intermonte.it | May 15, 2020 | Cellularline - Q1-2020-supported-by-Systema-strategy-confirmed-ahead-of-challanging-Q2 | BUY | 8.50 |
| Banca Akros | Andrea Bonfà | andrea.bonfa@bancaakros.it | March 27, 2020 | Cellularline - CV seems manageable. DVD yld at 8%+ and sustainable | BUY | 8.00 |
| Intermonte SIM | Andrea Randone
Francois Robillard | andrea.randone@intermonte.it
francois.robillard@intermonte.it | March 26, 2020 | Cellularline - M&A supports growth ahead of an uncertain 2020 | BUY | 8.70 |
| BANCA IMI | Gabriele Antonio Berti | gabriele.berti@intesasanpaolo.com | March 23, 2020 | Cellularline - FY2019 Results | BUY | 9.30 |
| Mediobanca | Marco Vitale
Giuseppe Grimaldi | marco.vitale@mediobanca.com
giuseppe.grimaldi@mediobanca.com | March 3, 2020 | Cellularline - Value stalled by COVID-19 | Outperform | 7.00 |
| Banca Akros | Andrea Bonfà | andrea.bonfa@bancaakros.it | November 26, 2019 | Fine tuning forecast with inclusion of IFRS16. Value still there. PT confirmed | BUY | 9.50 |
| BANCA IMI | Gabriele Antonio Berti | gabriele.berti@intesasanpaolo.com | November 22, 2019 | Cellularline - 3Q/9M19 Reults | BUY | 10.40 |
| Intermonte SIM | Andrea Randone
Francois Robillard | andrea.randone@intermonte.it
francois.robillard@intermonte.it | November 20, 2019 | Revenues set to accelerate in 4Q after 3Q slowdown | BUY | 10.30 |
| Mediobanca | Marco Vitale
Giuseppe Grimaldi | marco.vitale@mediobanca.com
giuseppe.grimaldi@mediobanca.com | November 18, 2019 | Cellularline - Ready to deliver in a tougher environment | Outperform | 9.20 |
| BANCA IMI | Gabriele Antonio Berti | gabriele.berti@intesasanpaolo.com | September 16, 2019 | Cellularline - 1H19A Results | BUY | 10.80 |
| Intermonte SIM | Edoardo Girelli
Andrea Randone | edoardo.girelli@intermonte.it
andrea.randone@intermonte.it | September 16, 2019 | Cellularline - 1H19 in line_Double digit top line growth; slightly drop in profitability | BUY | 10.70 |
| Mediobanca | Marco Vitale
Giuseppe Grimaldi | marco.vitale@mediobanca.com
giuseppe.grimaldi@mediobanca.com | September 16, 2019 | Cellularline - A small step in the right direction | Outperform | 9.60 |
| Banca Akros | Andrea Bonfà | andrea.bonfa@bancaakros.it | September 4, 2019 | Cellularline - Prospective 23% EBITDA margin looks sustainable - Initial Coverage | BUY | 9.50 |
| BANCA IMI | Gabriele Antonio Berti | gabriele.berti@intesasanpaolo.com | September 3, 2019 | Cellularline - 1H19E Results Preview | BUY | 10.80 |
| Mediobanca | Marco Vitale
Giuseppe Grimaldi | marco.vitale@mediobanca.com
giuseppe.grimaldi@mediobanca.com | September 3, 2019 | Cellularline - A value adding partner for retailers - Initial Coverage | Outperform | 9.60 |
| Intermonte SIM | Edoardo Girelli
Andrea Randone | edoardo.girelli@intermonte.it
andrea.randone@intermonte.it | July 25, 2019 | Cellularline - 2019 Starts with Double-Digit Sales Rebound, Entry to STAR Segment of MTA | BUY | 11,0 |
| BANCA IMI | Gabriele Antonio Berti | gabriele.berti@intesasanpaolo.com | March 21, 2019 | Cellularline - FY18 Results | BUY | 12.0 |
| Intermonte SIM | Edoardo Girelli
Andrea Randone | edoardo.girelli@intermonte.it
andrea.randone@intermonte.it | March 18, 2019 | Cellularline - Plenty of Irons In The Fire in 2019, Including An Unexpected Dividend | BUY | 11.50 |
| BANCA IMI | Gabriele Antonio Berti | gabriele.berti@intesasanpaolo.com | October 1, 2018 | Cellularline - 1H18 Results | BUY | 12.6 |
| Intermonte SIM | Edoardo Girelli
Andrea Randone | edoardo.girelli@intermonte.it
andrea.randone@intermonte.it | September 28, 2018 | Cellularline - Weak 1H18 results affected by negative domestic CE channel dynamics | BUY | 12.4 |
| BANCA IMI | Vanessa Colangelo
Gabriele Antonio Berti | vanessa.colangelo@intesasanpaolo.com
gabriele.berti@intesasanpaolo.com | June 11, 2018 | Cellularline - Ready To Boost Internationalisation | BUY | 13.3 |
| Intermonte SIM | Edoardo Girelli
Andrea Randone | edoardo.girelli@intermonte.it
andrea.randone@intermonte.it | June 7, 2018 | Cellularline - Making Smartphones Smarter | BUY | 12.8 |
