Jefferies resumes Italy's Nexi at 'hold', sees 'sustained path' rather than 'terminal decline'

Adyen

09/02/2026 07:29

** Jefferies resumes coverage of NEXII.MI at "hold" as it sees the Italian fintech company on a "sustained path, rather than heading for terminal decline"

** Challenger players expanding across Europe are increasing pressure on Nexi's core markets in the absence of "large-scale" consolidation, the brokerage says

** Dutch peer Adyen's ADYEN.AS strategy of partnering with vertical SaaS companies is increasingly bearing on its mid-market customer base, it adds

** However, top-line deceleration and medium-term limited margin expansion concerns are already priced-in by the market, it notes

** It sees Nexi laying out a new 3-year plan for topline, margin and cash generation development,  aiming for mid-single digit revenue growth and "modest" margin expansion

** Up to the previous session's close, shares were down 17.7%​ YTD

** Out of 17 analysts that cover Nexi, nine rate the stock "strong buy" or "buy," ​six rate "hold" and two​ rate the stock "strong sell" or "sell" - LSEG data

 (Reporting by Philippe Leroy Beaulieu in Gdansk)

 ((Philippe.leroybeaulieu@tr.com))