Intesa Sanpaolo: Oddo BHF still says 'Reduce'
(CercleFinance.com) - Oddo BHF has confirmed its "reduce" rating on the the Intesa Sanpaolo share, along with its target price of 2.
3 euros (4% downside potential), the day after the Italian bank signed a strategic agreement with Nexi on payment systems, in a deal that the analyst says makes sense strategically.
It is better to negotiate a partnership that is relatively win/win at this stage on a business that may eventually "escape" the banking sector (payments). It could also help to ease the pressure on the share somewhat in relation to its dividend, the broker believes.
However, the broker considers that this is not enough to make a real game changer compared to its more cautious approach taken during its recent study on the share in November.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
3 euros (4% downside potential), the day after the Italian bank signed a strategic agreement with Nexi on payment systems, in a deal that the analyst says makes sense strategically.
It is better to negotiate a partnership that is relatively win/win at this stage on a business that may eventually "escape" the banking sector (payments). It could also help to ease the pressure on the share somewhat in relation to its dividend, the broker believes.
However, the broker considers that this is not enough to make a real game changer compared to its more cautious approach taken during its recent study on the share in November.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.