RBC Updates Model for Intesa Sanpaolo Post-Q3 Results

02:54 AM EST, 11/05/2026 (MT Newswires) -- RBC Capital Markets revised its earnings forecasts for Intesa Sanpaolo (ISP.MI) after the Italian bank published its third-quarter earnings. In a Wednesday model update report, the research firm said it models a full-year 2026 group net income of 10.37 billion euros, compared with management's upgraded guidance of "well above" 10 billion euros. Intesa Sanpaolo previously targeted a net income of "over" 10 billion euros. Analysts also project 2026 net interest income of 15.35 billion euros, versus the lender's guidance of "well above" 15 billion euros. "Our FY28 reported PBT estimate increases by c.4% driven by higher-than-expected NII (more positive NIM assumptions more than offset lower volume growth assumptions) and fee and commission income (largely driven by upgraded assumptions in Banca dei Territori), which are partly offset by higher operating expenses," the note said. Against this backdrop, RBC raised the outperform-rated stock's price target to 7.75 euros from 7.25 euros.