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Fly News Breaks for March 2, 2020
NTXFF, NRDBY, ING, SCGLY
Mar 2, 2020 | 07:30 EDT
Kepler Cheuvreux analyst Jacques-Henri Gaulard upgraded the European banking sector to Neutral from Underweight following the "recent freefall" in the stocks. The analyst believes now is the time to close the Underweight sector rating due to "more constructive" valuations. The impact from COVID-19 hat seems broadly priced in, Gaulard tells investors in a research note. The analyst's most preferred stocks are ING Group (ING), Nordea Bank (NRDBY) and Societe Generale (SCGLY). Gaulard's least preferred stocks are Banco BPM, Natixis (NTXFF) and SHB.