Intesa Sanpaolo: share price rises, broker raises target

(CercleFinance.com) - Intesa Sanpaolo is up over 2% in Milan after Oddo BHF confirmed its 'outperform' rating on the stock, with a target price raised from 4.
6 to 4.9 euros, following a publication deemed 'reassuring on key operational points, and ultimately on capital/return to shareholder'.

The diversification of the business model (focus on long-term savings) should continue to favor Intesa Sanpaolo within the sector in the new interest-rate environment", believes the analyst, who raises his net income estimates for 2024-26 by an average of 3%.

Oddo BHF also considers that the valuation remains attractive in view of the quality of the fundamentals and the prospects for shareholder return (yield of around 10% on average for 2024-26, i.e. over 200 basis points above the sector).

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