Goldman Sachs has reinstated coverage on UniCredit SpA, assigning a Buy rating with a price target of EUR 63.00, following a 44% rise in its shares in 2025, outperforming the European banking sector. Analysts expect strong fee income growth and effective cost control to enhance profitability, while UniCredit's return on tangible equity is projected to exceed 16%. The bank's valuation, now at approximately 8.9 times its 12-month forward P/E, aligns with sector peers, indicating a favorable outlook amidst a recovering European banking landscape.