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BNP Paribas: Jefferies raises its target slightly
(CercleFinance.com) - Jefferies announced on Wednesday that it had slightly raised its price target for BNP Paribas from 95.
6 to 95.9 euros, while renewing its buy recommendation on the stock.
In a note published ahead of the publication of second-quarter results, scheduled for July 24, the American broker believes that the market consensus seems to have missed a number of buoyant elements.
Among these, Jefferies says it has identified solid asset inflows in insurance, favorable momentum in the securities business, a beneficial effect of volatility and a lenient trend in credit costs in Italy.
The broker - who considers that all these factors will more than offset the slowdown in retail banking activity in France - thus expects second-quarter earnings to be 9% higher than analysts' consensus, not to mention any positive surprises from asset management and the strength of interest rates.
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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 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.
6 to 95.9 euros, while renewing its buy recommendation on the stock.
In a note published ahead of the publication of second-quarter results, scheduled for July 24, the American broker believes that the market consensus seems to have missed a number of buoyant elements.
Among these, Jefferies says it has identified solid asset inflows in insurance, favorable momentum in the securities business, a beneficial effect of volatility and a lenient trend in credit costs in Italy.
The broker - who considers that all these factors will more than offset the slowdown in retail banking activity in France - thus expects second-quarter earnings to be 9% higher than analysts' consensus, not to mention any positive surprises from asset management and the strength of interest rates.
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.