Intesa Sanpaolo: Jefferies raises target price

(CercleFinance.com) - Jefferies confirms its "buy" rating on Intesa Sanpaolo shares; raising its target price for them from E3.
7 to E3.9, after increasing its forecasts by 1%/8% for 2024/25, which are now 3%/5% above the EPS consensus.

The broker says that it recently upgraded the Italian bank's stock, expecting "diversification to become more central in investment decisions".

"While more rates' sensitive banks have out-performed so far, we would expect this to change when short term rates start to move down", it continues.


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