UniCredit: Morgan Stanley maintains 'overweight' rating
(CercleFinance.com) - Morgan Stanley maintains an "overweight" rating on UniCredit, with a target price of 14.
80 euros, before the Italian lender hosts its capital markets day on 3 December.
In a note to clients, the broker said it expects non-core closure, share buybacks and optionality on Turkish bank Yapi to be key potential levers to close its cost-of-equity gap relative to peers.
Morgan Stanley said it sees the prospect of a successful delivery as a key catalyst for shares to move higher.
Copyright (c) 2019 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.
80 euros, before the Italian lender hosts its capital markets day on 3 December.
In a note to clients, the broker said it expects non-core closure, share buybacks and optionality on Turkish bank Yapi to be key potential levers to close its cost-of-equity gap relative to peers.
Morgan Stanley said it sees the prospect of a successful delivery as a key catalyst for shares to move higher.
Copyright (c) 2019 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.