JPMorgan upgrades Amplifon and UniCredit, boosting Italian market

JPMorgan Chase raised its rating on Amplifon S.p.A. from Neutral to Overweight and set a target price of €16.70 per share, implying a potential upside of about 47% from current levels. The upgrade contributed to Amplifon’s share price gaining roughly 2.7% to €11.335 during the trading session.

The bank also upgraded UniCredit S.p.A., raising its target price to €94 per share (up from €93) and maintaining an Overweight stance. JPMorgan highlighted expected double‑digit net‑profit growth for UniCredit between 2026 and 2028, driven by the pending full acquisition of Germany’s Commerzbank. Analysts estimate the new target gives the stock an upside of around 14.4%, helping UniCredit rank among the top performers on Italy’s FTSE MIB index.