The analyst confirms his Buy recommendation on the share, with a price target of E17.5, which represents a potential upside of 9% compared with the current price.

UBS believes that the "road ahead is clear to make up for the discount to similar stocks in the same sector".

' The recovery may take time, but the expected dividend yield of 9% is an additional advantage', says UBS.

In early November, the Group raised its 2023 guidance, with recurring net income (group share) now expected to be between 5.1 and 5.7 billion euros (instead of 4.7 to 5.3 billion), while reaffirming its dividend policy.

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