UniCredit: Barclays raises TP

(CercleFinance.com) - Barclays has reaffirmed its 'overweight' recommendation on UniCredit shares, with a target price raised from E35.
9 to E41.5, saying that the stock is its favourite amongst Italian banks, alongside Banca Monte dei Paschi di Siena (MPS).

Ahead of Q1 publications, "We expect Q1 NII to be solid, 2024 EPS guidance to be maintained / improved, and messages on capital returns to be upbeat.".

"These positive fundamentals should continue to drive multiple re-rate, and are supportive in light of potential M&A. Our preferred names in Italy are UCG and MPS", Barclays adds in its report on Italian banks.


Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.