Deutsche Bank starts Iveco with 'hold' on lacking upside potential

CNH Industrial NV

24/08/2023 07:51

** Deutsche Bank starts coverage on Italy's Iveco  IVG.MI 
at "hold" saying the truck maker had made some structural
improvements since it spun off from CNH  CNHI.MI  last year, 
    ** DB however does not see grounds for more upside potential
    ** "We note that all peers are more regionally diversified,
as Iveco is almost a pure play on Europe," the brokerage says
    ** Deutsche Bank starts Iveco with PT of 10 euros
    ** Iveco shares closed at 8.6 euros on Wednesday
    ** The stock has gained 55.4%​ YTD
    ** Out of 11 analysts that cover Iveco, six rate it "strong
buy/buy", ​four rate it "hold" and one rates it "sell"

($1 = 0.9206 euros)

 (Reporting by Alessandro Parodi)
 ((alessandro.parodi@thomsonreuters.com))