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Mediobanca: UBS upgrades stock

( - UBS has upgraded Mediobanca shares from 'neutral' to 'buy', with a target price raised from E13.
1 to E14.1, with the latter offering 20% upside potential for the Italian bank's share.

The broker justifies this upgrade by "the focus on the wealth management business, the defensive NII profile and the attractive capital returns with a c13% 24-26E yield".

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