(CercleFinance.com) – The stock ended the day up almost 1%. UBS reaffirms its ‘buy’ recommendation on Intesa SanPaolo with an adjusted price target of 3.1 to 3.15 euros, a new target implying a potential upside of 18%, after the results of the Italian financial establishment last week.
‘Although the day investors do not lead to substantial increases in net profit, we still see Intesa SanPaolo as an attractive way to play on the probable rate hikes of the ECB’, judges the broker.
According to UBS, the group’s 2022-25 business plan is largely in line with expectations, with the exception of the announced €3.4 billion share buyback program, but ‘rate optionality does not’ is not fully integrated into current courses’.
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