Goldman Sachs downgraded Intesa Sanpaolo (ISNPY) to Neutral from Buy. Goldman noted that since being added to the Buy List in May of 2022, Intesa’s share price increased 166% vs the broader European banks index increasing 122%. However, the firm is downgrading the stock to Neutral as it currently sees “few re-rating catalysts given limited upside to consensus net profit estimates.”
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