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UniCredit: UBS upgrades to 'buy' on strategic plans

(CercleFinance.com) - UBS is upgrading its rating on UniCredit from "neutral" to "buy" after the Italian banking giant presented its strategic plan last week.

In a note to clients, the broker cited "increased capital return" and "improved earnings visibility," while also noting that valuation has become "supportive."

Alongside this upgrade, UBS has increased its target price for the share from 12.8 euros to 14.9 euros.

The UniCredit share was up 0.3% at 12.8 euros in Milan after these comments.

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