Unicredit: Oddo BHF still a buyer before CMD
(CercleFinance.com) - Oddo BHF reinstates its "buy" rating on the Unicredit share, along with its target price of 18 euros, with the broker counting on provisions and targets that are consistent with the achievements of its previous plan, ahead of the Italian bank's CMD on 3 December.
According to the analyst, the Italian bank will mainly focus on a "stand alone" improvement in its operating leverage and a continuation in reducing risks on its balance sheet, which will improve its risk profile and reduce the cost of risk.
The broker believes that Unicredit's share valuation is attractive given its fundamentals and outlook. Its current upside largely exceeds that of its sector (about 10%).
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.
According to the analyst, the Italian bank will mainly focus on a "stand alone" improvement in its operating leverage and a continuation in reducing risks on its balance sheet, which will improve its risk profile and reduce the cost of risk.
The broker believes that Unicredit's share valuation is attractive given its fundamentals and outlook. Its current upside largely exceeds that of its sector (about 10%).
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.