BNP Paribas: Oddo BHF raises target price
(CercleFinance.com) - Oddo BHF reiterates its 'outperform' rating on BNP Paribas shares, while raising its target price for them from E79 to E82, taking into account the shift in its TP to 2025, following last week's publication of quarterly net income that was close to expectations.
BNP Paribas will benefit from a favourable comparison basis in Q4: we expect net income to rise over the next few years, supported by growth in revenues (including net interest income), the analyst believes.
Oddo BHF also believes that the group will continue to benefit gradually from the redeployment of capital following the sale of BankWest, and that it 'remains lowly valued', at 0.69x tangible equity for a RoTE target of 11.5%-12% next year.
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The information and analyses published by Cercle Finance are intended solely as decision-making aids 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.
BNP Paribas will benefit from a favourable comparison basis in Q4: we expect net income to rise over the next few years, supported by growth in revenues (including net interest income), the analyst believes.
Oddo BHF also believes that the group will continue to benefit gradually from the redeployment of capital following the sale of BankWest, and that it 'remains lowly valued', at 0.69x tangible equity for a RoTE target of 11.5%-12% next year.
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 decision-making aids 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.