Berenberg: Unipol Likely to See Benefits from Italian Banking Consolidation

Berenberg said Tuesday that Unipol Assicurazioni (UNI.MI) may benefit from the ongoing banking consolidation in Italy but that its new status as a full insurance group will weigh on net income.Analysts kept the stock at buy and raised the price target to 14.50 euros from 12.80 euros.The research firm said merger talks between BPER (BPE.MI) and Banca Populare (BPSO.MI), two local banks that Unipol has stakes in, could boost Unipol's dividends per share by 0.05 euro. On the other hand, analysts lowered their net income estimates through 2026 largely due to a 1.13 billion-euro foregone investment income for its Unipolsai deal."While on our current forecasts, which are modestly above Bloomberg consensus, there is some limited upside to the share price. We also believe that Unipol has the ability ... to positively surprise us when it reports its new three-year strategic plan," the note said.

Berenberg: Unipol Likely to See Benefits from Italian Banking Consolidation

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