0834 GMT - Mediobanca's strong profit and revenue beats, along with its outlook confirmation and improved 2026 targets, confirm its franchise potential, Citi says in a research note. The market should have a positive reaction to the Italian bank's results, which has recently rejected a takeover approach from peer Monte dei Paschi, analyst Azzurra Guelfi writes. "We would expect the market to continue to re-rate the stock," she says. The results could also push a higher premium for Monte dei Paschi's current offer, which Citi remains skeptical on, Guelfi notes. Shares open 2.1% higher at 16.90 euros. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
February 11, 2025 03:34 ET (08:34 GMT)
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