Jefferies ups Banca Generali to 'buy' on business momentum, upside

Banca Mediolanum SpA

15/06/2026 07:56

** Jefferies ups Banca Generali BGN.MI to "buy" from "hold", expects Alleanza partnership and Intermonte acquisition to support the April-May business momentum into the second half
** "We think consensus is not fully embedding the upside from these initiatives or from the higher rates" the brokerage says, adding that a new business plan presentation in the second half could be a catalyst
** Jefferies also notes that business visibility was impacted by Mediobanca takeover attempt in 2025, but sees a positive impact from its resolution, with recruitment trends improving and net inflows rebounding
** The brokerage reiterates its rating on Fineco FBK.MI  and Banca Mediolanum BMED.MI at "buy" and "hold", respectively
**  Of 7 analysts covering Banca Generali, 5 rate the stock "strong buy" or "buy", ​two "hold" and none "sell" - LSEG data

COMPANY
RATING
OLD RATING
PT
OLD PT
Banca Generali BGN.MI 
Buy
Hold
€70.00 
€61.00
Fineco FBK.MI 
Buy
no change
€26.10
€26.00
Banca Mediolanum BMED.MI 
Hold
no change
€21.50
€20.40
   

 (Reporting by Anna Uras)
 ((Danilo.Masoni@TR.com))