Poste Italiane: supported by a broker upgrade

(CercleFinance.com) - Poste Italiane gains almost 2% and outperforms the trend in Milan, helped by a recommendation upgrade by UBS from 'neutral' to 'buy', with a price target raised from 12.
2 to 14.2 euros, on the Italian postal operator's share.

After an investor day, the broker raises its EPS estimates for 2024-28 from 5% to 16%, as it expects a resilient EBIT margin over this period thanks to controlled cost growth, and also deems the valuation attractive.

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