1418 GMT - UniCredit's pursuit of Germany's Commerzbank has the potential to result in a major earnings boost, and this prospect seems mispriced, Bank of America's Antonio Reale and Rohan Datta say in a note. If the Italian bank achieves 50% control of Commerzbank it would be able to incorporate the German bank's results in its own accounts, Bank of America says. If UniCredit ends up with full ownership of Commerzbank, its adjusted net profit could rise to 20.5 billion euros by 2030, from 10.1 billion euros last year, they estimate. Bank of America raises its target price on UniCredit's stock to 100 euros from 92 euros, and calls it its top pick within European Union banks. UniCredit shares rise 4.1% to 77.66 euros. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
June 16, 2026 10:18 ET (14:18 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments