MILANO ( – Ubi Banca’s recommendation on Expert System moves from Hold to Buy: the target price has in fact been revised upwards, from 1.03 to 1.43 euros. “The second half of 2017 represented a turning point for the company – analysts write in the report – Revenues grew by 20% with a significant increase in foreign sales, and the company significantly improved its product mix; one-off costs of € 0.7 million, 2017 EBITDA was positive and that of the second half amounted to € 5 million, and the recent capital increase of € 10.5 million made it possible to tackle the planned investments and the absorption. Finally, the new corporate targets (revenues up 10% at least this year and 15% next year and margins on the value of production exceeding 10% in 2018 and 15% in 2019) are below the business plan 2017-19, but in our opinion reachable”. For 2018 Ubi Banca have expectations with revenues of € 29.1 million, ebitda 4.1 and a loss of € 4 million for this year, while for 2019 estimates are € 33.9 million, 6.6 of ebitda and a red of 1.6 million. Finally, profit of € 0.1 million, in 2020, when revenues will increase to € 38.2 million and EBITDA to € 8.7 million.