Kepler starts FinecoBank with 'buy', highlights innovations

** Kepler Cheuvreux starts coverage of FinecoBank FBK with "buy", noting the Italian lender's diversified business model is helped by continuous innovations

** Kepler points to the bank's developed advisory-only fees structure that aims to accelerate loan growth

** Adds the bank's technological innovations allow it to grow client base to counterbalance lower interest rates with increasing volumes

** Kepler also notes the bank accounts for 70% of the financial advisor market in exchange-traded funds in Italy

** Kepler sets target price at 21.3 euros; FinecoBank shares are down 0.6% at 18.4 euros on Tues

** Out of 14 analysts that cover FinecoBank, 10 rate it "strong buy" or "buy,"​ 4 rate "hold," per LSEG data