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Deutsche Bank (ETR:DBKGn) raised its price target on Banca Mediolanum SpA (BIT:BMED:IM) stock to €17.20 from €16.90 while maintaining a Buy rating.
The price target increase follows Deutsche Bank’s attendance at Banca Mediolanum’s Convention for Family Bankers and a subsequent meeting with the company’s CEO.
Deutsche Bank noted that these interactions "strengthened our positive view further" on the Italian financial services company.
The firm highlighted Banca Mediolanum’s "unique corporate culture" that emphasizes long-term client relationships and business expansion focus as key factors in its investment thesis.
Deutsche Bank observed that this corporate culture, while "difficult to quantify," contributes significantly to the company’s "consistent outperformance in commercial results and earnings growth," pointing to strong asset management inflows year-to-date as evidence.
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