Unicredit : The prospect of M&A, a hazardous catalyst in our view
>Neutral recommendation maintained - Target price raised to € 10.0 (vs € 9.6) - We have reiterated our Neutral recommendation, due to the lack of triggers that are sufficient to justify an outperformance from the share over the coming weeks, over and above the speculative effect associated with the prospect of banking consolidation. However, we have raised our earnings forecasts by an average of 1% for 2021-2023, essentially to factor in a slightly less conservative s...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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