UNICREDIT : Jefferies remains Buy ahead of earnings release
The stock still has good ingredients to outperform, thanks to a 7% EPS CAGR over 2023-26, a point on the business plan that can keep investor engagement high, and re-rating potential," the broker believes.
According to Jefferies, a valuation multiple of six times expected earnings in 2026 'implies that the market is not integrating earnings stability with a structural rise in eurozone interest rates'.
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