UniCredit: UBS raises target price

(CercleFinance.com) - UBS reinstates its "buy" rating on UniCredit shares, while raising its corresponding target price from 14.
1 euros to 15.4 euros, a new target price that represents 92% upside potential for the Italian bank's share.

Reviewing the release of Q1 2022 results last week, the broker believes that "1Q should offer comfort about UCG's valuation discount being overdone".

UBS is raising its EPS estimates by 15%-20% for 2022 and 2023, mainly to take into account the 1.6 billion euro share buyback program announced at its quarterly trading update.


Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.