Poste Italiane shares at record highs. For Goldman Sachs the race is not over

In the last three months, PST shares in Piazza Affari have risen by 14.5%, bringing the comparison with a year ago to +75.9 percent.

According to the Money.it Research Department, this morning the Poste Italiane share prices recorded a new historical high going up to 11.07 euros. In the very short term, according to the study, buyers could take a break, favoring "short" matrix strategies.

Here the complete study:

Poste Italiane, title marks new historical highs: how to operate?

Poste Italiane: this is what is driving the actions

Today the new purchases were triggered by a report prepared by Goldman Sachs analysts who, in a study entitled "Good execution helping to unlock hidden value", have raised the evaluation from "neutral" to "buy" with a target price that goes from 10 to 13 euros, almost 20 percentage points more than current prices.

But what prompted the Goldman Sachs analysts to promote the actions of the group led by CEO Matteo Del Fante?

Poste Italiane: this is why Goldman Sachs has promoted the title

Goldman Sachs said that the decision to increase the valuation was triggered by three main reasons:

• the solid execution of the plan, which prompted the US bank to increase its estimates (the estimate on Ebit 2019-21 was raised, on average, by 8 percentage points);
• the unexpressed potential in the mobile and digital payments division;
• the lower risk cost in Italy.

Poste Italiane: Goldman Sachs, positive judgment on management

"We believe – reads the study – that Poste Italiane's management has demonstrated solid execution capabilities, developing new businesses that can bridge the market gap and / or exploit the extensive post office network ".

Poste Italiane currently has about 13 thousand branches, equal to the sum of the branches of the top five Italian banking groups.

In light of the fact that the company beat the estimates provided in each of the last nine quarters, "we have raised the Ebit estimates, now above the 2022 targets provided by the company ".