(Finance) – Berenberg has increased the target price on UniCredit from 14.5 in 17 euros per shareexpressing a judgment Buy on the title and pointing out how the actions have room to keep running. The Italian bank “has outperformed the EU banking sector by around 30% in the past three months, reversing the losses suffered by its shares due to exposure to Russia,” the broker said.
“After revising its revenue guidance upwards, keeping the focus on risk and executing the capital distribution plan, UniCredit it is achieving success on all fronts, in our view, and we expect this to continue“, is added. Berenberg estimates that UniCredit’s CET1 ratio 2024 could reach 13.7%, well above the 12.5-13.0% target.