Unicredit : A fairly solid Q2 2021...and prospect of an MPS deal in the short term
>Neutral rating maintained – target price raised to € 10.4 (vs € 10.0) - The operating performance in Q2 2021 was solid, thanks mainly to the fall in CoR and more favourable momentum on NBI. We are raising our estimates for 2021-2022e by ~4% on average. Our Neutral rating is maintained, based on a target price automatically raised to € 10.4 (vs € 10.0), remaining cautious in terms of the group’s strategic options (new plan for Q4 2021) faced with the uncertainty over ...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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