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On a day in which the Ftse Mib struggles to take a precise direction of travel, continuing to move close to parity, the session of the bankers in Piazza Affari continues in a contrasting manner.
Contrasted banks in Piazza Affari
Lagging behind the others is Bper Banca which travels down by 0.82%, followed by Banco BPM which rises by 0.69%, while Unicredit and Inte Sanpaolo move slightly above parity, rising by 0 respectively. 13% and 0.22%, but to wear the pink jersey is Mediobanca which shows a progress of 0.36%.
Banks little helped by good spreads and BTPs
Securities in the banking sector cannot all move in the same direction, without benefiting from the encouraging signals coming from the bond front.
The BTP-Bund Spread travels again in the direction of 100 basis points and in the last few minutes it shows up precisely at 101.6 basis points, with a decrease of 1.55%.
The BTPs that attract purchases are well in tune, so much so that the ten-year yield falls by 1.31% to 0.903%.
Intesa Sanpaolo: Goldman Sachs raises target. Buy confirmed
Goldman Sachs has turned the spotlight on the banking sector, or at least on some of its protagonists.
Analysts of the latter confirmed a bullish view on Intesa Sanpaolo, with a “buy” recommendation and a target price adjusted upwards from 2.95 to 3 euros, a value that implies an upside potential of around 20% compared to the current prices on Piazza Affari.
The US bank believes Intesa Sanpaolo offers one of the highest returns in the sector and analysts expect higher payout ratios than management’s objectives.
Experts adjusted the taret price to reflect lower risk-weighted assets and greater excess capital.
Bper Banca: for Goldman Sachs it is to be bought
Among the banks to buy we also find Bper Banca which for Goldman Sachs deserves a “buy” recommendation, with a fair value of 2.7 euros which compared to the current prices on Piazza Affari offers a potential appreciation margin of almost 32%.
Analysts like Bper Banca which they say runs on a low valuation, without forgetting the M&A option that could add value to the stock.
BPM Bank: Goldman Sachs maintains cautious view
Finally, Goldman Sachs is more cautious on Banco BPM, so much so that it reaffirms the “neutral” rating with a target price adjusted from 2.85 to 2.95 euros, a value that implies an upside potential of around 7% compared to current prices at Piazza Affari.
Analysts explain that this target price reflects a fundamental value of 2.67 euros per share, weighted at 70%, and an M&A value of 3.64 euros, weighted at 30%.
It should be noted that Goldman Sachs has also put a hand to the estimates on earnings per share, raising them by 1%.
Trend-online Deputy Director, born in 1978.
After completing his studies at the Classical High School “Antonio Calamo” of Ostuni I entered the world of economics.
For about twenty years I have been dealing with Stock Exchange and Finance. After having worked as a financial promoter for several years, in 2005 I joined the Trend-online team as an editor, to later become deputy director of the cylinder head. Among other countless activities, I take care of maintaining relationships with all the experts, analysts and traders, consulted daily by Trend-online.
My motto is? “Life is like a mirror, if you look at it smiling it will smile at you”.