(CercleFinance.com) – While reiterating its ‘neutral’ opinion on UniCredit, Oddo BHF raises its price target from 34 to 36 euros, returning to a quarterly publication from the Italian bank which once again surprised favorably.
‘The group delivers (again) a very solid copy on the operational level (momentum on the top line, discipline on costs, evolution of the quality of assets/CoR)’, judges the analyst, who also points out ‘a confident message on the 2024 guidance’.
Oddo BHF nevertheless believes that the quality of the group’s fundamentals is already well ‘priced’ in view of the stock market performance over one year, and it already includes the operational/balance sheet perspectives and return to the group’s shareholder in the medium term.
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