Unicredit: Oddo raises target price

(CercleFinance.com) - Oddo maintains its "neutral" rating on UniCredit shares, although has nudged up its target price from 9.
6 euros to 10 euros (current price about 10.6 euros, flat)

The broker has increased its earnings estimates by an average of 1% for 2021-2023, although deems that this is insufficient to justify an 'outperform' rating on the stock over the next few months.

Oddo notes that the arrival of a new CEO in April resulted in a fairly sharp rebound in the share price, which was probably fuelled by renewed M&A speculation.

However, the analyst says that the broker's overall view of the group's fundamentals have changed little.


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