MILAN (AIMnews.it) - IR Top Research updates the TP on Fope in light of the FY 2017 results exceeding expectations. The price target on the stock passes from 6.05 to 8.85 euros per share. The analysts' estimates for 2018 have been revised upwards and forecast revenues of 30.8 million euros, up 10% compared to 2017, an increase in EBITDA margin of 30 basis points, from 13.9% in 2017 to 14.2% in 2018 (4.4 million euros in absolute terms). For 2020 IR Top Research expects 37.3 million euros of revenues, 6 million euros of EBITDA (16.2% EBITDA margin) and 3 million euros of net profit. The average annual growth in revenues in the period 2018-2020 should therefore be 10%, while that of EBITDA at 17%, an increase of 5 percentage points compared to previous estimates thanks to the increase in turnover and the consequent improvement in operating leverage.