UniCredit: shares up on positive broker comments

(CercleFinance.com) - Shares of Italian banking giant UniCredit are up about 1% at 16.
4 euros on Tuesday following positive broker comments on the stock.

Jefferies maintained its "buy" rating on the stock, saying that the stock's 8% fall since the group's strategic update has created an "attractive entry point."

"The big picture remains attractive with return on tangible equity (ROTE) and capital targets for 2019 reaffirmed and payout ratio increased," the broker points outs in a research note.

Given upside risk to capital return, further re-rating looks justified, Jefferies writes in a research note.

Seperately, the broker maintained its target price of 21 euros.

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