Mediobanca upgraded to Hold from Sell at Deutsche Bank

Deutsche Bank analyst Giovanni Razzoli upgraded Mediobanca (MDIBY) to Hold from Sell with a price target of EUR 15.80, up from EUR 11.10. The stock’s valuation “appears to be more favorable now” in the context of lower rates due to exposure to consumer credit and a supportive outlook for fee income in both Wealth Management and Corporate & Investment Banking, the analyst tells investors in a research note.