Mediobanca downgraded to Sell from Hold at Deutsche Bank

Deutsche Bank downgraded Mediobanca to Sell from Hold with a price target of EUR 10.30, down from EUR 11.30. The stock’s is trading with a 25% premium versus the firm’s European coverage, which is not justified by fundamentals, the analyst tells investors in a research note. The firm sees increasing uncertainty on the definition of Mediobanca’s strategic priorities.