Unicredit : Good Q2 2024 figures … partially driven by factors that cannot be extrapolated
>Neutral rating maintained – target price increased to € 42.0 (vs € 38.0) - UniCredit again posted better-than-expected net income in Q2 2024 (+15% vs cons) and confirmed favourable operating trends, lending a little more weight to the prospect of significant shareholder returns (key strategic focus). We have factored in this solid operating momentum with an average upgrade of 10% to our net income estimates for 2024-2026e (driven particularly by a more favourable sho...Unicredit is a pan-European commercial banking group based in Italy. Co. is engaged in the provision of in-branch and online corporate and investment banking services, providing customers with access to banks in 14 core markets as well as to an another 18 countries worldwide. Co.'s operations are organized along six business lines: Commercial Banking Italy; CEE Division; CIB; Commercial Banking Germany; Commercial Banking Austria; and Asset Gathering. Co.'s European banking network includes Italy, Germany, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Romania, Russia, Slovakia, Slovenia, Serbia and Turkey.
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