Intesa Sanpaolo : Q2 2021 earnings: good performance
>Outperform rating reiterated – target price increased to € 2.9 (vs € 2.75) - Our Outperform recommendation is confirmed by the Q2 2021 publication, which is reassuring on the key operational aspects (top line, costs, cost of risk/quality of assets) and on the prospects for shareholder returns. The good operating performance and the upgrade to the guidance prompt us to revise up our 2021-2023 estimates for net income by an average of 6% (based in particular on a fall...Intesa Sanpaolo is a commercial bank. Co. is engaged in lending and deposit collection operations in Italy and associated financial services, serving Households, Personal, Small Business, Private and Small and Medium Enterprise customers. Co. provides medium-term credit, leasing, factoring and agribusiness (Mediocredito Italiano), consumer credit (Intesa Sanpaolo Personal Finance), management of electronic payments (Setefi), and trust services (Sirefid). Co. has approximately 4,300 branches, including Retail and Business branches, distributed broadly throughout Italy. At Dec 31 2014, Co. had total assets of Euro646.43 billion.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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