Intesa Sanpaolo: UBS downgrades buy rating

(CercleFinance.com) - UBS has downgraded its recommendation on the Intesa SanPaolo share from "buy" to "neutral," cutting its target price from 2.
40 euros to 2.15 euros. This gives the Italian bank's share upside potential of 7%.

Its research note summarises that the share's current multiples leave little leeway for any disappointment regarding the group's profits. Amongst Italian banks, the broker prefers the group's peer UniCredit.


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