Fubotv earnings beat by $0.10, revenue topped estimates
Investing.com - JPMorgan has downgraded Poste Italiane SpA (BIT:PST) (OTC:PITAF) from Overweight to Neutral while setting a price target of EUR20.00.
The investment bank reduced its adjusted EBIT estimates for the Italian postal service and financial services provider by approximately 1.5% to 3.5%.
JPMorgan expects Poste Italiane to meet its net income targets and notes the company continues to offer an attractive dividend yield to investors.
The downgrade follows the stock’s recent re-rating and strong relative performance, which has brought it back to its historical price-to-earnings ratio relative to the European insurance sector.
JPMorgan indicated it sees better opportunities for positive earnings surprises in other stocks within the sector, specifically highlighting Generali (BIT:GASI) as an alternative with more upside potential.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.