Final H1-25 report published highlighting GFI's extraordinary performance (H1-25 EBITDA in line with full 2024 EBITDA)We estimate today's NAV to be EUR 18.5, implying a discount of 30%We increased our valuation for GFI and raise our TP to EUR 16.1 p/s (from EUR 15.3). With 25% of upside, we reiterate our Buy rating
