UNCRY - UniCredit: Recent Strategy Update Shows That Valuation Discount Is Unwarranted
UniCredit (UNCRY) is an interesting value play in the European banking sector, as the bank is still trading at a discount to peers and its fundamentals are catching up to other large European banks, something that isn’t currently reflected in its share price.
Background
UniCredit is an Italian bank that is present in its domestic market and internationally the two most important markets are Germany and Austria, with the three countries accounting for some 80% of its revenues. The rest of its revenues comes mainly from Central and Eastern European ((CEE)) countries.
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