Kepler Cheuvreux downgrades Italy's Nexi on slower transition period

Nexi

12/03/2026 09:20

** Kepler Cheuvreux downgrades Italian payment company Nexi NEXII.MI to "hold" from "buy", citing "longer-than-expected" transition period

** Says post-pandemic payment market slowdown underestimated, with industry only expanding in "mid single-digit range" over past few years vs expected 10% over 2022-27

** Does not see trend improving soon; expects large exceptional contract losses over next couple of years impacting co's growth pace

** Cuts PT by 38% to 3.10 euros, saying no strong catalysts in coming months despite current undemanding valuation

** NEXII falls ~1% to 2.988 euros

** Stock rated "hold" on avg, median PT is 3.35 euros, per data compiled by LSEG

** YTD, NEXII falls more than 28%

 (Reporting by Mirko Miorelli)

 ((Mirko.Miorelli@thomsonreuters.com))