Intesa Sanpaolo : Group negotiating start of the year pretty well
>Outperform recommendation maintained – target price lifted to € 2.80 (vs € 2.75) - Our Outperform recommendation has been underpinned by the Q1 2022 publication, reassuring on the key operational aspects (top line, costs, cost of risk/quality of assets) and on the capital/shareholder returns despite the current uncertain context and the first significant initiatives (provisioning on exposure to Russia/Ukraine. We have adjusted our operating estimates (see sector fla...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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