Poste Italiane: UBS downgrades stock

(CercleFinance.com) - UBS has downgraded its rating on Poste Italiane shares from "buy" to "neutral", slashing its target price from 13 euros to 8.
7 euros, with its new target price broadly in line with the Italian postal operator's current share price.

"We turn more cautious on Poste's revenue prospects in light of the challenging macro context," the broker summarises, highlighting sovereign risk and stagflation as factors weighing on the share price.


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