Shares in Poste Italiane have surged after a positive upgrade from Barclays, with the investment bank increasing its price target for the Italian postal service provider by 63% to 4.50 euros. The upgrade, from 'equal weight' to 'overweight', suggests Barclays expects the company to outperform its peers in the future. This comes as Poste Italiane continues to make progress on its acquisition of Telecom Italia, a Italian telecommunications company.
Poste Italiane shares surge after Barclays upgrade and PT hike amid Telecom Italia deal
UKPulse Markets DeskPoste Italiane's shares have risen following a positive upgrade from Barclays, which has also increased its price target for the Italian postal service provider. The move comes after Poste Italiane's deal to acquire Telecom Italia.
- Barclays upgrades Poste Italiane to 'overweight' from 'equal weight'
- Price target increased by 63% to 4.50 euros
- Move comes after Poste Italiane's deal to acquire Telecom Italia
Why this matters: The upgrade and price target increase have significant implications for UK investors and savers with exposure to the European market, particularly those with holdings in Italian companies.
What this means for you: What this means for you: If you have investments in European stocks or are considering investing in the FTSE 100, this news may have implications for your portfolio. We recommend consulting a qualified financial adviser to discuss your options.