Commerzbank: Oddo BHF raises target price
(CercleFinance.com) - Oddo BHF confirms its 'outperform' rating on Commerzbank shares, raising its target price for them from E18.
5 to E22.5, bolstered by 'the good underlying operating performance, the validation of the 2024 guidance and the medium-term strategic update.
The broker has raised its net income expectations (+5% on average over 2025-27) and its CoE for the German bank, but also takes greater account of the potential return to shareholders.
It considers the valuation attractive, given the solid fundamentals and outlook, with the stock still trading at 'only' around 0.8x 2024 BV for an expected RoE of over 11% in 2026 and an average total return of around 15% over 2025-26.
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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 to E22.5, bolstered by 'the good underlying operating performance, the validation of the 2024 guidance and the medium-term strategic update.
The broker has raised its net income expectations (+5% on average over 2025-27) and its CoE for the German bank, but also takes greater account of the potential return to shareholders.
It considers the valuation attractive, given the solid fundamentals and outlook, with the stock still trading at 'only' around 0.8x 2024 BV for an expected RoE of over 11% in 2026 and an average total return of around 15% over 2025-26.
Copyright (c) 2025 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.