Intesa Sanpaolo: Oddo prefers over UniCredit

(CercleFinance.com) - Oddo maintains its "neutral" rating on UniCredit shares (target price of 15 euros), while it has an "outperform" rating on Intesa Sanpaolo (target price of 3.
25 euros), saying that it still has a cautious approach to the Italian banking sector as a whole.

Analysts say that they believe that macroeconomic conditions in Italy are once again fragile, given the probable repercussions of the Ukrainian crisis in the absence of a solution in sight, they warn, believing that at this stage, sovereign risk could once again become a cause for concern.

In this context, the broker prefers Intesa Sanpaolo, which it says seems to be better placed to do well (manageable exposure to Russia, business model, capital/dividend, impact of UBI Banca integration, etc.).

Unicredit shares are currently up over 1.5%, while Intesa Sanpaolo are trailing, up 0.5%, with Italian market in between - up 0.8%.



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