Kepler Cheuvreux cuts Banca Generali after strong share rally

Banca Generali SpA

19/01/2026 08:09

** Kepler Cheuvreux cuts Italian private bank Banca Generali BGN.MI to "hold" from "buy" on little upside left after a 25% share rally since mid-October

** 2025 was a "transition year" marked by uncertainty linked to a failed acquisition offer from Mediobanca MDBI.MI and management's focus on integrating newly acquired broker Intermonte, Kepler says

** The broker forecasts a nearly 6% y/y drop in the bank's 2025 net profit to around 406 million euros ($472.26 million) on stable revenues and higher operating costs

** Banca Generali is scheduled to report FY results on Feb. 11

($1 = 0.8597 euros)

(Reporting by Laura Contemori)

((Laura.contemori@thomsonreuters.com))