Deutsche Bank cuts BPER to "hold", awaiting August plan
18/05/2026 10:28
** Deutsche Bank downgrades BPER Banca EMII.MI to "hold" from "buy", seeing a lack of catalysts in the short term, at least until the Italian bank's business plan update in August ** The brokerage says BPER now trades at a slight premium to domestic peers after gaining 47% relative to euro zone banks .SX7E since February 2025 ** DB adds Q3 share buyback could offer limited support at around 3% of market cap, though upside is constrained without a firm commitment from the bank to cancel shares ** In a note on Italian financials, it also raises Monte dei Paschi BMPS.MI target by 1 euro to 12, citing earnings benefits from Mediobanca synergies ** It confirms Monte dei Paschi as a top pick in its European banks portfolio
| COMPANY | RATING | OLD RATING | PT | OLD PT |
| BPER Banca EMII.MI | Hold | Buy | 13.4 eur | 13.4 eur |
| MPS BMPS.MI | Buy | - | 12 eur | 11 eur |