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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.

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