In a report released on May 28, Fabrizio Bernardi from N/A reiterated a Buy rating on Banca Sistema S.p.A. (0R9H – Research Report), with a price target of €2.60.
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Fabrizio Bernardi has given his Buy rating due to a combination of factors including Banca Sistema S.p.A.’s strong financial performance and strategic focus. The bank’s first-quarter results for 2025 surpassed expectations, leading to an upward revision of estimates for the year. A key highlight is the bank’s solid capital position, with a CET1 ratio of 12.4%, reflecting an improvement from the previous quarter.
Additionally, Banca Sistema’s core business of factoring remains a significant profit driver, despite a temporary dip in turnover due to an uneven year-over-year comparison. The bank’s strategic focus on preserving margins and profitability, particularly in salary-backed loans and pawnbroking, supports a positive outlook. Furthermore, the undervaluation of the stock and potential re-rating opportunities, as indicated by recent market transactions, contribute to the Buy recommendation.
According to TipRanks, Bernardi is a 2-star analyst with an average return of 17.3% and a 100.00% success rate.