Credit Agricole: UBS maintains 'buy' rating, cuts target
(CercleFinance.com) - UBS reiterates its "buy" rating on the Crédit Agricole stock, while trimming its target price for the from 14.
8 euros to 14 euros, which still suggests upside potential of 29%.
"CASA's 3Q18 PBT was 5% ahead of consensus driven by lower bad debts," the broker says, even though it has cut its 2019-22 EPS estimates by about 3%, due to weaker markets.
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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.
8 euros to 14 euros, which still suggests upside potential of 29%.
"CASA's 3Q18 PBT was 5% ahead of consensus driven by lower bad debts," the broker says, even though it has cut its 2019-22 EPS estimates by about 3%, due to weaker markets.
Copyright (c) 2018 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.