Crédit Agricole: UBS raises target price
(CercleFinance.com) - UBS underlines that the bank's outlook is stable, with an attractive earnings mix and valuation.
The analyst maintains a buy rating on the stock, with a target price raised to E15.5 (from E15.3).
Q3 results were slightly below expectations, driven by insurance and corporate activities. Earnings forecasts are unchanged, UBS says.
Note that Crédit Agricole SA reported underlying net income (group share) that rose 10.9% to E1.69bn for Q3 2024, with underlying gross operating income up 5.5% to E2.83bn.
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.
The analyst maintains a buy rating on the stock, with a target price raised to E15.5 (from E15.3).
Q3 results were slightly below expectations, driven by insurance and corporate activities. Earnings forecasts are unchanged, UBS says.
Note that Crédit Agricole SA reported underlying net income (group share) that rose 10.9% to E1.69bn for Q3 2024, with underlying gross operating income up 5.5% to E2.83bn.
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.