(News Bulletin 247) – Jefferies raises its recommendation on Mediobanca from ‘hold’ to ‘buy’ with a price target raised from 10.6 to 12.4 euros, considering in particular that the Italian bank’s lower sensitivity to interest rates can become a relative strength.
‘Mediobanca’s new business plan responds to our expectation of development, emphasizing activities with low capital absorption (wealth management) and reducing capital allocation on CIB and Consumer activities Finance’, estimates the broker.
“The regulations will enable efficiency gains in risk-weighted assets, supporting a generous payout policy with more than 30% of market capitalization returned to shareholders over fiscal years 2024-26,” he adds.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
