Mediobanca: upbeat with broker upgrade

(CercleFinance.com) - Mediobanca climbs 4% to clearly outperform the trend in Milan, helped by a recommendation upgrade by UBS from 'neutral' to 'buy', with a price target raised from 13.
1 to 14.1 euros for the bank's shares.

The broker justifies its upgrade by 'the focus on the wealth management business, the defensive net interest income profile and the attractive returns on capital with a yield of around 13% over 2024-26'.

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