Kepler Cheuvreux ups Italy's BPER to 'buy' over Pop Sondrio's consolidation impact

Banca Popolare Di Sondrio SpA

07/11/2025 09:28

** Kepler Cheuvreux ups rating for Italy's BPER EMII.MI to "buy" from "hold" on the "much better impact" of its Q3 consolidation of Banca Popolare di Sondrio BPSI.MI

** BPER's 575 million euros ($670.57 million) Q3 net profit beat came in as "positive surprise", Kepler Cheuvreux says

** The broker ups the 2026-27 adjusted earnings per share (EPS) estimates of Italy's fourth largest bank by 17% to 1.15 and 1.22 euros respectively

** The adjusted EPS estimates do not include yet potential upside from potential share buybacks, for which BPER has activated a 2 billion euros derivative contract, Kepler notes

** Out of 11 analysts that cover BPER Banca SpA, all rate the stock "strong buy" or "buy" - LSEG data

($1 = 0.8575 euros)

 (Reporting by Philippe Leroy Beaulieu in Gdansk)

 ((Philippe.leroybeaulieu@thomsonreuters.com))