JP Morgan analysts have raised their target prices on a number of European banks, including Italian ones. In Italy, they have raised their ratings on Intesa Sanpaolo, with a target price of €6.50 per share from €6 (overweight recommendation).

UniCredit also received an upward rating, with a target price raised to 80 euros per share from 70 euros (Overweight recommendation), and Banco BPM to 12 euros per share from 10.8 euros (Overweight recommendation).

Italian banks are in good company as other European giants have, for example, seen a lowered target price on BNP Paribas (90 from 94 euros, Neutral), a raised target price on HSBC (940 pence from 870, Neutral), on ING (25 from 22.60, Overweight), on Santander (8.80 from 7.50 euros, Neutral) and on UBS (38 from 37 CHF, Overweight).