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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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.
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.
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.