Credit Suisse: Oddo reduces target price
(CercleFinance.com) - While maintaining its "neutral" rating on Credit Suisse shares, Oddo BHF has reduced its corresponding target price from 12.
3 Swiss francs to 10.2 Swiss francs, in light of a well-integrated accident on prime brokerage, although given uncertain fundamentals.
The broker believes that the direct and indirect impacts of trading losses on prime brokerage and other recent difficulties have been fairly well integrated by the market, the analyst monitoring the stock said.
The reduction in our target price validates the market correction by also integrating these impacts. With a target close that is close to the share's last price, the potential of Credit Suisse shares corresponds to the median potential of other banking stocks that we monitor, the analyst adds.
The share is currently pretty flat in Zurich, albeit outperforming the market (-0.5%).
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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.
3 Swiss francs to 10.2 Swiss francs, in light of a well-integrated accident on prime brokerage, although given uncertain fundamentals.
The broker believes that the direct and indirect impacts of trading losses on prime brokerage and other recent difficulties have been fairly well integrated by the market, the analyst monitoring the stock said.
The reduction in our target price validates the market correction by also integrating these impacts. With a target close that is close to the share's last price, the potential of Credit Suisse shares corresponds to the median potential of other banking stocks that we monitor, the analyst adds.
The share is currently pretty flat in Zurich, albeit outperforming the market (-0.5%).
Copyright (c) 2021 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.