(CercleFinance.com) – The stock rose by almost 1% on the Milan Stock Exchange, benefiting today from two positive analyses.
Barclays reaffirms its ‘overweight’ recommendation on UniCredit with a price target raised from 33.5 to 35.9 euros, in the wake of an adjusted EPS estimate raised by 7% after the results of the last quarter of 2023.
According to the broker, the Italian bank will redistribute around 31% of its market capitalization over the next two years and its valuation looks convincing at a 2024 P/E ratio of five times, ‘especially considering the resilience of profitability at the future’.
UBS also reiterates its ‘buy’ recommendation on UniCredit with a price target raised from 39.8 to 42.5 euros, a new target which contains 47% growth potential for the title of the Italian banking establishment.
‘UniCredit’s defensive status is supported by the improvement in profit and capital return prospects after the fourth quarter’, judges the broker after this publication which, according to it, constitutes ‘a new demonstration of strength’.
‘The capital-adjusted PE (price-to-EPS ratio) of around five times still suggests considerable upside potential from here on out,’ adds UBS in the summary of its research note.
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