(News Bulletin 247) – Deutsche Bank reaffirms its ‘buy’ recommendation on Intesa Sanpaolo with a price target raised from 3.20 to 3.40 euros, highlighting its leading position in the richest regions of northern Italy ‘Italy.
According to the broker, thanks to this position, its retail banking franchise “can fully benefit from the rise in interest rates, while benefiting from a more resilient macroeconomic outlook than expected”.
“The combination of strong liquidity and asset quality enables Intesa Sanpaolo to structurally reap the benefits of an acceleration in margin-driven net interest income and an ultra-low cost of risk,” continues -he.
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