The top picks of Piazza Affari to be selected already looking to 2021, among these 4 Ftse Mib titles plus a new entry


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There are still two abundant weeks to go until the end of the first half of the year but it is already time to look to the second half of the year. Banca IMI analysts updated their strategy for the second half of the year indicating the top picks that best adapt to the current difficult context. “Unhappy with 2020 … and Raising the Bar on 2021”, is the title of the Banca IMI report which highlights how little there is to say about 2020 from an equity perspective: “Valuations are more expensive than before the crisis, earnings risk is completely distorted to the downside and recessionary shadows are looming. Even more than before, we should aim directly at 2021 for anyone with a sense of market direction: therefore it is a pity that 2021 itself now seems more risky than 2019 “.
A situation that forces us to be more demanding in terms of stock selection criteria. “A stress test on earnings forecasts for 2021 seems a safer way to return to Italian equities, together with the look for new winners in the post-emergency environment“, Underlines Giampaolo Trasi, Head of Equity & Credit Research of Banca IMI.

Poker of Ftse Mib titles plus an upcoming new entry

The top picks listed include 8 large caps, of which only 4 are part of the Ftse Mib: General (add rating with tp at 15.6 euros), Banca Mediolanum (Buy with tp at 7.8 euro), Leonardo (Buy with tp for 9 euros) e Italian post with Add and tp rating at 9 euro. Another title, Interpump (Add with tp at 31 euros) will make its debut on the Ftse Mib on June 22nd.

The other three securities indicated are Acea (Add with a tp at € 22), ERG (Buy with a tp at € 7.8) and finally Rai Way (Buy with a tp at € 6.3).

Look also at mid caps

Banca IMI then indicates 9 top picks among the mid caps with a buy rating assigned to Giglio Group, Guala Closures, La Doria, Piaggio, SeSa, Valsoia and Zignago Vetro; Rating Add instead on Sicit Group and Wiit.

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