UBS has raised its recommendation on Poste Italiane from 'neutral' to 'buy', with a price target raised from 12.2 to 14.2 euros, a new target that offers 23% upside potential for the Italian postal operator's stock.

After an investor day, the broker raises its EPS estimates for 2024-28 from 5% to 16%, as it expects a resilient EBIT margin over this period thanks to controlled cost growth, and also considers the valuation attractive.

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