Intesa Sanpaolo Stock Surges on MPS Deal, Goldman Sachs Lifts Target

Intesa Sanpaolo's stock price rose to EUR 6.77 on Borsa Italiana as investors reacted positively to Goldman Sachs' higher target and the bank's planned takeover of Monte dei Paschi di Siena.

The bank's shares gained around 2.5% after Intesa Sanpaolo's extraordinary shareholders' meeting approved the capital increase needed for the takeover bid, with 97% of present shareholders voting in favor, representing 63.9% of total share capital.

Goldman Sachs maintained a Buy rating on Intesa Sanpaolo and highlighted it as one of its preferred European banking names.

The bank's credit profile has also improved, with Morningstar DBRS upgrading its long-term senior preferred unsecured rating to A from A (low) due to the bank's balance sheet strength and earnings profile.