Intesa Sanpaolo: Oddo maintains buy rating
(CercleFinance.com) - In a report on Italian banking stocks, Oddo BHF has confirmed its "outperform" rating on Intesa Sanpaolo shares, while maintaining its target price at 2.
75 euros. In comparison, it has a Neutral rating on its peer UniCredit.
The analyst believes that the company is better placed to perform well, therefore confirming its status as a top pick in its sector, given its attractive risk/reward profile (fundamentals versus valuation).
The macroeconomic context and the banking sector in Italy seem fairly resilient at this stage, despite the visible signs of fragility related to the Ukrainian crisis, Oddo says, while adding that sovereign risk should remain under control.
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