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Crédit Agricole: Oddo BHF still a buyer, cuts target

( - Oddo BHF reaffirms its reinstates its “buy” rating on the Crédit Agricole (CASA) share, while trimming its target price from 10.
9 euros to 10.5 euros, which still represents upside potential of 20% for the share. Indeed, the broker believes that the French bank is well positioned to face the crisis.

The profitable and diversified business model appears to be an asset for CASA to face the COVID crisis, particularly in the context of persistently low interest rates in Europe, explains the analyst who monitors the stock.

Oddo BHF also emphasises that CASA has very solid solvency, in addition to the group's very clear desire to maintain an attractive dividend policy despite the ECB's recommendation.

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