Goldman Sachs analyst Chris Hallam maintained a Hold rating on Poste Italiane SPA on March 23 and set a price target of €24.00.
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Chris Hallam has given his Hold rating due to a combination of factors related to Poste Italiane’s planned acquisition of Telecom Italia. The proposed all-share and cash offer, valuing TIM shares at a modest premium, would significantly expand Poste’s scale, revenues, and workforce, positioning it as a key national infrastructure player but also increasing operational complexity.
While management projects meaningful cost and revenue synergies, along with EPS accretion from 2027 and no dilution to the 2026 dividend payout, these benefits are back-end loaded and contingent on execution. The sizeable one-off costs to unlock synergies, the long completion timeline through 2026, and integration risks around realising tax assets and efficiencies justify a balanced stance, reflected in a valuation of €24 per share using a 2027 earnings-based P/E framework.
In another report released yesterday, Barclays also maintained a Hold rating on the stock with a €22.00 price target.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of 0RC2 in relation to earlier this year.