(CercleFinance.com) – Barclays reaffirms its ‘overweight’ recommendation on UniCredit with a price target raised from 32.7 to 33.5 euros, in a note on Italian banks in view of their next results publications.
“We expect Q4 net interest income to be strong, 2024 EPS guidance to be maintained, and capital returns messaging to be optimistic,” says the broker.
Barclays believes, however, that this is generally reflected in consensus and that share price reactions will depend on measures that maintain the ‘credibility’ of EPS, with Intesa Sanpaolo and Unicredit being best placed in this regard.
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