Unicredit: penalised by broker downgrade
(CercleFinance.com) - The UniCredit share is down around 1%, underperforming the market in Milan, penalised by comments from Credit Suisse, which has downgraded its rating on the share to "neutral," maintaining its target price at 9.
5 euros, in its comments on Italian banks.
However, the broker says, "We continue to view UCG as a well-run bank with a strong balance sheet and disciplined cost management," although only sees fairly limited ST potential for increases in consensus estimates for 2020 and 2021.
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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, in its comments on Italian banks.
However, the broker says, "We continue to view UCG as a well-run bank with a strong balance sheet and disciplined cost management," although only sees fairly limited ST potential for increases in consensus estimates for 2020 and 2021.
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.