Berenberg: Fineco On Track to Meet Industrial Plan Targets; Price Target Up

06:36 AM EDT, 08/17/2026 (MT Newswires) -- Berenberg raised its price target for FinecoBank Banca Fineco (FBK.MI), as analysts believe the Italian fintech bank is on course to achieve its industrial plan goals. "FinecoBank (Fineco) is on track against its industrial plan targets of low-double-digit [compound annual growth rate] (2025-29) in net sales, new clients and EPS, in our view. A rising number of new clients, improved efficiency, new products and rising wallet share among existing clients allow for the revenue momentum to be sustained, with all three business segments adding to revenue and net income growth. The shares are trading on 19.3x our 2027E EPS, c5% below their long-run average and, given that the business is on track to deliver a c11% EPS CAGR over the next three years based on our estimates, we think that the shares can trade above this level, with our new EUR28 price target offering c15% upside to the current price," according to a Monday note. "Given ongoing investments in the platform, launch of new products and the bank's competitive pricing, we believe total annualised net sales growth can remain in the low-double-digit realm (ahead of Visible Alpha consensus forecast of c9% [per annum] total net sales in the next three years), with a mix shift to more [assets under management]," the research firm added. Amid higher revenue expectations, Berenberg upgraded its full-year 2026 to 2028 EPS forecasts by 2% to 3%, which lifted its price target to 28 euros from 27 euros. The stock's buy rating was maintained.