(Finance) – Intesa Sanpaolo reduced to 3.50 euros per share (from 3.60) on target price on Intermonteindependent investment bank listed on Euronext Growth Milan and specialized in institutional brokerage, research, capital markets, M&A and advisory on the Italian market, maintaining judgement on the title a “BuyThe review of the recommendation came after the company approved its 2021 budget.
Analysts maintain a positive opinion on Intermonte, as: it showed a good revenue trend in 2021, confirmed in the first two months of 2022; has a solid capital position (CET1 ratio 39.9% at the end of 2021), leaving room for both external growth opportunities and a satisfactory remuneration policy for shareholders; offers a dividend yield 2022-24 average of 10%, according to their estimates.
Given the current difficult geopolitical and macroeconomic context at the international level, Intesa Sanpaolo adopts a more cautious position on revenue trends, particularly in 2022, and estimates slightly higher costs in both 2022 and 2023. Analysts expect the company to close the year with revenues of 42.8 million euros and a Net income of 8.7 million euros. These values should rise in 2023, respectively, to 46.4 million euros and 9.7 million euros.
(Photo: Intermonte)