DB ups Italy's Mediobanca to 'hold' amidst lower rates
** Deutsche Bank (DB) upgrades its stance on Italy's Mediobanca MDBI.MI to "hold" from "sell" on changed lower rates scenario
** Brokerage sees the Milan-based lender as "more favorable now in the context of lower rates due to exposure to consumer credit and a supportive outlook for fee income"
** It also hikes the target price to 15.8 euros ($17.15) per share from 11.10 euros
** According to DB, Mediobanca flags lower sensitivity to rates due to its fixed-rate consumer credit portfolio
** "MB's valuation may also see support as the board of Assicurazioni Generali is up for renewal under the new legal framework," DB analyst Giovanni Razzoli adds
** Out of 15 analysts that cover Mediobanca, five rate the stock "strong buy" or "buy, eight rate "hold" and two rate the stock "strong sell" or "sell"
($1 = 0.9212 euros)
Reporting by Romolo Tosiani
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