Intesa Sanpaolo (OTCMKTS:ISNPY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
According to Zacks, “Intesa Sanpaolo is a new banking group resulting from the merger between Banca Intesa and Sanpaolo IMI. It has leadership in the Italian market and a strong international presence focussed on Central-Eastern Europe and the Mediterranean basin. Intesa Sanpaolo intends to become a benchmark for the creation of value in the European banking sector. The new Group brings together two major Italian banks with shared values and improves their opportunities for growth as well as enabling enhanced service for retail customers, significant support for development of business customers and an important contribution to growth in all the countries where it operates. “
A number of other brokerages also recently weighed in on ISNPY. J P Morgan Chase & Co downgraded Intesa Sanpaolo from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 11th. upgraded Intesa Sanpaolo from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Finally, ValuEngine downgraded Intesa Sanpaolo from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Intesa Sanpaolo has an average rating of “Hold”.
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About Intesa Sanpaolo
Intesa Sanpaolo S.p.A. is a banking company. The Company’s segments include Banca dei Territori, Corporate and Investment Banking, International Subsidiary Banks, Asset Management, Private Banking and Insurance. The Banca dei Territori division includes the Company’s traditional lending and deposit collecting activities.
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