(Alliance News) - Nexi closed down 1.0% at EUR4.845 on the Milan Stock Exchange, penalized by Marshall Wace's short position on 6.3 million shares, equal to 0.5% of the capital, and by Intermonte's target price cut from EUR8 to EUR7.4 ahead of the third-quarter results, expected on November 5.

As reported by Milano Finanza on Wednesday, Intermonte forecasts revenues of EUR 925 million, up 1.6% year-on-year, and EBITDA of EUR 526 million, up 0.6%, with a margin of 56.8%, down 56 basis points, signaling a slowdown due to the expiry of contracts with Banco BPM and Cassa Centrale Banca.

While lowering its 2025-2027 estimates, the SIM confirms its guidance for 2025 and its cash flow forecast of over EUR 800 million, maintaining its 'outperform' rating.

JPMorgan is more cautious, reiterating its 'neutral' rating on October 3 and reducing its target price from EUR5.90 to EUR5.65, signaling organic growth of 0.9% in the fourth quarter.

"The underlying business remains solid," the bank notes, "but with slowing revenues and the end of the buyback, the reasons for a positive stance on the stock are limited."

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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