Intesa Sanpaolo: Deutsche Bank raises target price

(CercleFinance.com) - Deutsche Bank maintains its "buy" rating on Intesa Sanpaolo shares, nudging up its target price for them from E3.
20 to E3.40, highlighting its leading position in the wealthier regions of northern Italy.

The broker says that, with this position, its retail banking franchise " can fully benefit from the rising interest rates, while taking advantage of the more-resilient-than-expected macro outlook".

"The combination of strong liquidity and asset quality allows ISP to structurally reap the benefits of a margin-driven acceleration of NII and ultra-low cost of risk," it adds.


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