Intermonte sets EUR 33.00 target for Unipol stock

Published on 10/16/2026 at 09:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Unipol secures BPER control approval and launches a EUR 2.50 billion raise. Unipol stock costs EUR 25.17 on October 16, 2026, versus the EUR 25.18 Xetra close.

Capital and control strategy

Intermonte set a EUR 33.00 target on October 12, 2026.
Unipol's rights issue can raise EUR 2.50 billion for the BPER and MPS strategy.
Unipol stock trades at EUR 25.17 at 9:34 a.m. CEST at Lang & Schwarz on October 16, 2026, 0.04 percent below the Xetra close of October 15, 2026.
Third-quarter results are scheduled for November 12, 2026.

Moderne Glaslobby eines Versicherungskonzerns mit Geschäftsleuten — Fotorealistische Bürolobby symbolisiert Unipol Gruppo S.p.A. IT0004810054, den italienischen Versicherungskonzern an der Börse Mailand, Illustration mit AI erstellt.

Unipol stock (ISIN IT0004810054) was trading at EUR 25.17 at Lang & Schwarz on October 16, 2026, at 9:34 a.m. CEST, down 0.04 percent versus the Xetra close of October 15, 2026 at EUR 25.18. The latest analyst signal came from Intermonte, which confirmed an Outperform recommendation and a EUR 33.00 target on October 12, 2026, up from the EUR 25.00 level cited in its market assessment, Il Sole 24 ORE reported.

Capital supports BPER strategy

The corporate catalyst is a rights issue of up to EUR 2.50 billion. Unipol said on October 9, 2026 that the ECB and Bank of Italy had authorized it to exceed 20 percent of BPER Banca's share capital and voting rights, giving it de facto control.

The offer provides for up to 121.58 million new shares at EUR 20.56 each, while existing shareholders receive 10 new shares for every 59 held, according to Finanztrends. The proceeds are intended to help finance the planned acquisition of about 635 branches from Banca Monte dei Paschi di Siena, with the transaction value estimated at EUR 3.0 billion to EUR 3.5 billion.

What does the target imply?

The EUR 33.00 target is 31.11 percent above the Lang & Schwarz price of EUR 25.17. That gap reflects the strategic case described by Intermonte, which linked control of BPER with greater flexibility in a possible future combination involving BPER and MPS.

The financing timetable is already concrete. Rights trading was scheduled through October 20, 2026, and the exercise period through October 26, 2026, according to Finanztrends. Unipol's investor calendar lists third-quarter 2026 results for November 12, 2026, while its latest reported interim milestone was the June 30, 2026 half-year result, published on August 7, 2026.

Stock price and next dates

The immediate investor calculation is the spread between the EUR 20.56 subscription price and the EUR 25.17 market price, alongside the execution risk of the branch transaction. Unipol's next scheduled reporting date is November 12, 2026, giving investors a later checkpoint for the financial effect of the expansion plan. The stock was trading at EUR 25.17 at Lang & Schwarz on October 16, 2026 at 9:34 a.m. CEST, 0.04 percent below the Xetra close of October 15, 2026 at EUR 25.18. The further course of trading is shown by the continuously updated real-time quote of Unipol stock.