Commerzbank: AlphaValue confirms buy rating
(CercleFinance.com) - AlphaValue confirms its Buy rating on Commerzbank shares, with a six-month target price of E13, giving it upside potential of over 30% at current levels.
The analyst reports that while Commerzbank's revenue fell by 4.5% in Q1, net profit almost doubled (+95%) in the same period, reaching E580m (21% above consensus of E481m), while operating profit rose by almost 60% to E875m.
Against this backdrop, Commerzbank has confirmed its targets for 2023, including net profit that is well above that in 2022, the broker notes.
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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 analyst reports that while Commerzbank's revenue fell by 4.5% in Q1, net profit almost doubled (+95%) in the same period, reaching E580m (21% above consensus of E481m), while operating profit rose by almost 60% to E875m.
Against this backdrop, Commerzbank has confirmed its targets for 2023, including net profit that is well above that in 2022, the broker notes.
Copyright (c) 2023 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.