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Intesa Sanpaolo downgraded to Neutral from Buy at Goldman Sachs

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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