BNP Paribas: UBS maintains 'buy' rating, cuts target
(CercleFinance.com) - UBS reiterates its "buy" rating on BNP Paribas, while trimming its target price for the share from 62 euros to 60 euros, a new target that suggests upside potential of 30% for the banking group's share.
The broker said “Weak performance in CIB and domestic retail banking revenues led us to cut EPS by 1-5%.”
Nevertheless, it points out that, having fallen by 26% since the beginning of the year, the BNP Paribas share is trading at a 2019e P/E of 7x, which is an attractive valuation that justifies maintaining a "buy" rating.
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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 broker said “Weak performance in CIB and domestic retail banking revenues led us to cut EPS by 1-5%.”
Nevertheless, it points out that, having fallen by 26% since the beginning of the year, the BNP Paribas share is trading at a 2019e P/E of 7x, which is an attractive valuation that justifies maintaining a "buy" rating.
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.