Unicredit : Q1 2024 confirms the group’s strategy and guidance
>Neutral rating reiterated – target price raised to € 38 (vs € 36) - UniCredit once again beat expectations in Q1 2024, with net income of € 2.56bn before AT1/CASHES (i.e. +20% vs consensus). The beat was driven by good revenue momentum (including in NII), confirmation of good cost control and a cost of risk that was much better contained than expected. The group moreover confirmed its comfortable level of solvency with a CET1 FL ratio of 16.2% at end-March 2024, tha...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.
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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