Ubi Banca: soars, with analyst adopting buy rating.

(CercleFinance.com) - The UBI Banca share is up almost 5% on the Milan Stock Exchange after UBS adopted a positive rating on the stock.


The broker's analysts have initiated their coverage of the Italian bank's share, which analysts believe is undervalued, with a buy rating. The have set their target price for the share at 4.65 euros.

Analysts point out this Italian credit institution's quality assets and multiples relative to its peers - particularly in terms of doubtful loans.

Furthermore, UBS expects the bank to see a sharp improvement in its profitability over the next few years, despite a limited rise in revenues.


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