KBC: UBS raises target price, but still 'neutral'
(CercleFinance.com) - UBS has raised its target price on KBC this Monday, but the broker said that the Belgian bank's high profitability and above average growth are already reflected in the stock's premium valuation.
"We expect KBC to continue to deliver above average growth and profitability but this is reflected in its significant premium valuation vs. sector," the broker said.
UBS has raised its target price for the stock from 62 euros to 65 euros, while maintaining a "neutral" rating on it.
The KBC share is currently down 0.1% at 67.9 euros on Euronext Amsterdam.
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