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Investing.com - Barclays upgraded FinecoBank (BIT:FBK) (OTC:FCBBF) from Equalweight to Overweight on Wednesday, while raising its price target to EUR25.00 from EUR20.60.
The upgrade is based on three key factors, including what Barclays describes as "the sweet rate spot for Fineco to grow profitably" in the current market environment.
Barclays highlighted that ETF and AI opportunities are accelerating structural changes in Italy that FinecoBank is "best positioned to capture via its platform model."
The bank noted that FinecoBank’s upcoming business plan—the first in the company’s history—will serve as a catalyst by potentially translating "high-level, long-term growth drivers" into concrete numbers.
Barclays also pointed out that FinecoBank generates revenue from multiple streams, including deposits with approximately 2% revenue margin, assets under management (AUM) with 0.56% revenue margin, and assets under custody (AUC) with roughly 0.5% revenue margin.
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