Europe’s Top-Performing Bank Has About 50% More Upside, UBS Says

This year’s top-performing European bank is primed for further gains of almost 50% over the next 12 months, according to UBS Group AG analysts.

UniCredit SpA has rallied 18% in 2024 to date, building on last year’s 85% advance. That’s taken its market value to nearly €50 billion ($54 billion) — close on the heels of Intesa Sanpaolo SpA, Italy’s largest bank.