Mediobanca: UBS downgrades stock

(CercleFinance.com) - UBS has downgraded the Italian Mediobanca shares from "buy" to "neutral", reducing its corresponding target price from 11.
5 euros to 9.8 euros, which now represents just 3% upside potential for the Italian financial institution's stock.

The broker summarises that "the bank's business mix not overly attractive in the current context", in particular pointing to risks around markets (wealth management/CIB) and relatively low rate gearing.



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