(CercleFinance.com) – The title posted a gain of more than 6% at the close. Credit Suisse confirms its advice to Outperform on the stock but lowers its target to 16 E (instead of 18 E).
“As we factor in a deteriorating macroeconomic outlook in Eastern Europe, with our economists now forecasting a severe recession in Russia, we are reducing our net income estimates for fiscal years 2022-2024E by -5%/6%,” the office said. of analyses.
‘Unicredit’s exposure to Russia at subsidiary level represents less than 2% of the group’s loans (or 7.8 billion euros) and contributes only 3% of total consolidated income’ adds Credit Suisse .
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