Mediobanca flies to Piazza Affari, pushed by UBS: goal worth at 14.1 euros | EUROtoday

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(Il Sole 24 ore Radiocor) – Mediobanca is rising its tempo, along with the banking sector of Piazza Affari which helps the worth record. The FTSE MIB is the most effective in Europe, whereas Piazzetta Cuccia shares stand out within the prime three positions on the primary record. The purchases have been pushed by a UBS report wherein analysts raised their ranking on Mediobanca from impartial to purchase, with the goal worth sop a 14,1 euro da 13,1which suggests a possible upside of 20% in comparison with present costs (or roughly 35%-40% in comparison with the marketing strategy targets).

Analysts additionally raised earnings estimates for 2024-26 5%-7%, higher positioned for earnings progress, with a compound annual progress price (CAGR) of round 4% on 2024-26 estimates in comparison with the anticipated 1-3% contraction for Italian rivals. Although the inventory trades at a premium of round 30% of the worth/earnings ratio in comparison with competing retail banks, UBS sees room for a re-rating because of the larger concentrate on the wealth administration enterprise, with Mediobanca having materially elevated the share of market of Aum flows within the final 12 months, because of the defensive profile of the Net curiosity earnings, much less delicate to price cuts than rivals.

Finally, UBS highlights the return on capital enticing, with a return of round 13% on 2024-26 estimates, near the foremost Italian banks at 14%-18% and properly above the 5%-8% of managed financial savings securities in Italy. On Mediobanca, it must also be famous that Delfin, shareholder with a 19.74% stake, offered a million shares, equal to 0.12% of the capital of Piazzetta Cuccia to remain under the 20% share that it will have exceeded with the buyback.