(Tiper Stock Exchange) – Equity has resumed full coverage Of Bank Monte dei Paschi di Siena with recommendation hold and target price a €3.2 per share.
“We are aware that the security traded in compressed multiples and that, should the bank continue to achieve a good operating performance, there is room for rerating – reads the research – On the other hand, in a market context that is proving to be supportive for the sector as a whole and in which we don’t necessarily expect M&A to accelerate in the near termwe prefer to start with Hold on a relative basis, considering that the whole sector trades at still attractive multiples”.