Commerzbank: Oddo BHF raises target price
(CercleFinance.com) - Oddo BHF has reiterated its 'outperform' rating on the Commerzbank stock, raising its target price from 15.
8 to 17.7 euros, after adjusting upwards its net income expectations (+2% on average over 2024-26) following the German bank's quarterly results.
The publication confirms the rather favourable trend for Commerzbank on both the operating and balance sheet fronts, and ultimately reinforces the credibility of the prospects for a significant improvement in shareholder return in the short to medium term, it believes.
Oddo BHF continues, saying that the valuation remains attractive, given the company's solid fundamentals and high return potential, and sees nearly 20% upside potential for the stock, compared with less than 10% on average within its sector coverage.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.