Crédit Agricole: HSBC upgrades stock
(CercleFinance.com) - On Friday HSBC upgraded Crédit Agricole shares from 'hold' to 'buy', also raising its target price from E16 to E17.
5.
In a research note, the broker justifies its optimism with the favorable outlook for the green bank in asset gathering, a dynamic that should enable it to improve its results and encourage a stockmarket revaluation, it says.
In his view, the market is not taking sufficient account of the group's recent targeted acquisitions, even though these point to a shift towards asset management, as illustrated by the recent takeover of Belgian investment house Degroof Petercam.
With interest rates falling, the broker also anticipates an upturn in investment product activity, at the detriment of deposits, a phenomenon which it believes should be accentuated by the forthcoming normalisation of the French political landscape and its positive effect on private individuals' appetite for risk, again likely to favour investment products.
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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.
5.
In a research note, the broker justifies its optimism with the favorable outlook for the green bank in asset gathering, a dynamic that should enable it to improve its results and encourage a stockmarket revaluation, it says.
In his view, the market is not taking sufficient account of the group's recent targeted acquisitions, even though these point to a shift towards asset management, as illustrated by the recent takeover of Belgian investment house Degroof Petercam.
With interest rates falling, the broker also anticipates an upturn in investment product activity, at the detriment of deposits, a phenomenon which it believes should be accentuated by the forthcoming normalisation of the French political landscape and its positive effect on private individuals' appetite for risk, again likely to favour investment products.
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.