Kepler Cheuvreux cuts Telecom Italia after 'formidable' stock run

Telecom Italia SpA

24/06/2026 09:08

** Kepler Cheuvreux cuts Telecom ItaliaTLIT.MI to "hold" from "buy", following an 18-month "formidable" rally, with which the Italian telecom's share price has closed the valuation gap with peers

    ** Kepler points out the stock has risen by more than 220% since January 2025, and the broker's current PT of €8, which factors in synergies from the initial Poste Italiane PST.MI industrial partnership, indicates only a 3% upside from current valuation
  

    ** Kepler Cheuvreux does not expect an increase in Poste's bid, nor upgrades to TIM's upcoming business plan
  

    ** Out of 11 analysts, five rate the stock "strong buy"/"buy", five "hold" and one "strong sell"​​ - LSEG data
     

(Reporting by Mirko Miorelli)
((Mirko.Miorelli@thomsonreuters.com))