Report
Carine Maciol

Unicredit : Une solvabilité suffisante pour absorber les chocs – Recommandation Achat confirmée.

Unicredit, grâce à la restructuration menée ces dernières années, est entré dans cette crise avec une solidité bilancielle réelle. Et à défaut d’être spectaculaire, le plan Team 23, lancé en décembre 2019, a le mérite d’être pragmatique, reposant sur des leviers tangibles/self-help et des hypothèses prudentes (réalistes). Toutefois, les leviers opérationnels identifiés (trajectoire baissière du CdR et baisse des coûts) sont dorénavant altérés/insuffisants en raison de la crise sa...
Underlying
UniCredit S.p.A.

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Carine Maciol

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