Intesa Sanpaolo: Credit Suisse resumes coverage as a buyer
(CercleFinance.com) - Credit Suisse has resumed its coverage of the Intesa Sanpaolo share with an "outperform" rating and a target price of 2.
5 euros, judging it to be "well placed to extract further synergies from its acquisition of UBI Banca".
"its leading capital position should support a partial FY19 dividend catch-up in FY21E, which should translate into a double-digit dividend yield," the broker believes in its report on Italian banks.
"Longer term, ISP's business mix focus on wealth management and insurance should leave it better placed to weather the lower-for-longer rate environment in the eurozone," it adds.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
5 euros, judging it to be "well placed to extract further synergies from its acquisition of UBI Banca".
"its leading capital position should support a partial FY19 dividend catch-up in FY21E, which should translate into a double-digit dividend yield," the broker believes in its report on Italian banks.
"Longer term, ISP's business mix focus on wealth management and insurance should leave it better placed to weather the lower-for-longer rate environment in the eurozone," it adds.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.