Home Business Intesa Sanpaolo: the latest opinions, analysts applaud the new plan

Intesa Sanpaolo: the latest opinions, analysts applaud the new plan


Rain of positive opinions from analysts on Intesa Sanpaoloafter last Friday, the bank lifted the veil on the industrial plan to 2025, the third signed by Carlo Messina in command of the bank since 2013. Between 2021 and 2025, the Milanese bank expects one net profit growth of 11.8% on average per year in the new business plan, with a 2025 profit of 6.5 billion. The Rote will rise to 13.9% in 2025 from 9.1% in 2021 and the Roe to 11.6% from 7.6%.

Despite the good performance since the beginning of the year (+ 14%), and the stock at a premium compared to the banking sector, the experts of Equita sim they confirmed the rating the buydefining the “credible plan targets, based on prudent assumptions and which confirm a level of profitability well above the sector average”.

Equita Sim therefore raised the target price by 9% a 3.2 euros per share on the stock and has revised upwards the estimates for the two-year period 2022-23 (+ 1%), with an expected net profit in 2022 at 5.2 billion, while it has raised those in 2024-25 by + 3% to reflect higher cost efficiencies. At 2025 Equita expects a net profit of 6.7 billion compared to a guidance of 6.5 billion, which implies a profitability (Rote) of 13.4%. Experts also applaud the “rich remuneration for shareholders, with room for further increases given the excellent capital endowment and asset quality”.

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Other analysts’ opinions on Intesa

But that of Equita is only the latest of the positive opinions received by analysts against the bank led by Carlo Messina. The experts of Barclays have adjusted the target price on Intesa Sanpaolo shares from 3.10 to 3.30 euros after results and plan, confirming the judgment overweight. Same target price from Deutsche Bankwhich keeps the rating at buy.

A similar recommendation comes from Jp Morgan, which raised the target price from € 3 to € 3.20. Ubs confirmed the buy with a price target that goes from 3.1 to 3.15 euros. According to the Swiss bank, the group’s business plan is “broadly in line with expectations, with the exception of the announced 3.4 billion euro buyback program”.

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Among the most optimistic, the experts of Bofa which assign Intesa Sanpaolo a revised target price from € 3.30 to € 3.50 (rating buy). Kepler Cheuvreux has raised the target price from 2.90 to 3 euros (buy).
Finally, more cautious Credit Suisse experts, which reaffirmed the neutral rating but revised upwards the tp from 2.50 to 2.70 euros.

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