Intesa Sanpaolo: Jefferies raises target price

(CercleFinance.com) - Jefferies reaffirms its 'buy' recommendation on Intesa Sanpaolo, with a price target raised from 3.
7 to 3.9 euros, in the wake of forecasts raised by 1%/8% for 2024/25, and now standing 3%/5% above EPS consensus.

The broker recalls having recently upgraded its position on the Italian bank's stock, expecting that 'revenue diversification will become more central to investment decisions'.

While the most interest-rate-sensitive banks have outperformed to date, we expect this to change when short-term rates start to fall", he continues.

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