Analysts coverage

Broker	Analyst	Target Price (€)	Recommendation	Date
Banca Akros	EMANUELE OGGIONI	4.80	NEUTRAL	02/08/2019
Banca IMI	ROBERTO RANIERI	4.90	ADD	14/11/2019
Bank of America Merrill Lynch	HARRY WYBURD	4.20	UNDERPERFORM	15/05/2019
Barclays	JOSE RUIZ FERNANDEZ
Berenberg Bank	LAWSON STEELE	4.40	HOLD	13/02/2019
Bernstein	MEIKE BECKER	4.90	MARKET PERFORM	02/08/2019
Citi	ANTONELLA BIANCHESSI	3.50	SELL	16/07/2019
Credit Suisse	STEFANO BEZZATO	4.90	OUTPERFORM	07/08/2019
Deutsche Bank	JAMES BRAND	5.00	BUY	08/10/2019
Equita S.I.M.	STEFANO GAMBERINI	4.70	NEUTRAL	14/11/2019
Exane BNP Paribas	OLIVIER VAN DOOSSELAERE	4.90	OUTPERFORM	10/07/2019
Fidentiis	DARIO MICHI	4.40	BUY	01/08/2019
Goldman Sachs	ALBERTO GANDOLFI
Intermonte Securities	FEDERICO PEZZETTI	4.80	NEUTRAL	14/11/2019
Jefferies		3.90	HOLD	11/04/2017
JPMorgan	JAVIER GARRIDO	4.65	OVERWEIGHT	03/06/2019
Kempen	JURI ZANIERI	4.20	NEUTRAL	19/02/2019
Kepler Cheuvreux	CLAUDIA INTROVIGNE	5.00	BUY	05/11/2019
MainFirst	ENRICO BARTOLI	4.71	NEUTRAL	02/08/2019
Mediobanca	JAVIER SUAREZ	4.50	NEUTRAL	18/06/2019
Morgan Stanley	ANNA MARIA SCAGLIA	4.40	EQUAL-WEIGHT	15/05/2019
Royal Bank of Canada		4.25	SECTOR PERFORM	19/02/2019
Santander	VIRGINIA SANZ DE MADRID	4.90	BUY	13/05/2019
Societe Generale	BARTLOMIEJ KUBICKI	4.70	HOLD	07/08/2019
Ubs		3.90	NEUTRAL	19/02/2019

BROKER RECOMMENDATIONS

Broker	Analyst	Recommendation	Date
Banca IMI	ALESSANDRO CHIODINI	Hold	05/11/2015
Bank of America Merril Lynch	EMMANUEL OWUSU-DARKWA	Marketweight	15/11/2016
Barclays	SRINJOY BANERJEE	Marketweight	15/07/2015
CreditSights Limited	ANDREW MOULDER	Market perform	26/06/2012
ING	NADEGE TILLIER	Stable	01/09/2015
JP Morgan	DANIEL VAUN	Neutral	01/03/2013
Natixis	IVAN PAVLOVIC	Underweight	07/12/2016
RBC Capital Markets	NICHOLAS HARRISON	Sector perform	19/05/2014
Santander	MICHAEL CHARLTON	Hold	21/03/2016
Societe generale	PAUL VICKARS	Hold	18/03/2016
Unicredit	SUSANNE REICHHUBER	Marketweight	30/07/2015