(CercleFinance.com) – Jefferies reaffirms its ‘buy’ advice and its price target of 41.6 euros on UniCredit, before the publication of the Italian banking establishment’s results and a resumption of share buybacks expected on May 7.
‘The stock still has good ingredients to outperform thanks to a 7% EPS CAGR over 2023-26, a point on the business plan that can keep investor engagement high and revaluation potential ‘, estimates the broker.
According to Jefferies, a valuation multiple of six times expected profits in 2026 ‘implies that the market does not factor in the stability of results which is accompanied by a structural increase in rates in the euro zone’.
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