Amundi: Jefferies still a buyer, but cuts target
(CercleFinance.com) - Jefferies reinstates its "buy" rating on the Amundi share, while cutting its target price from 85 euros to 71 euros, in a report on European asset and wealth managers, in which it has reduced its EPS estimates.
"Whilst most companies have variable cost components and some are pursuing self-help initiatives, asset sensitive names are inevitably not a safe harbour in this storm," the broker says.
"The only solace is that, for several stocks, the market appears to have priced in a worse outcome than we have seen, at least so far: upgrading DWS to Buy."
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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.
"Whilst most companies have variable cost components and some are pursuing self-help initiatives, asset sensitive names are inevitably not a safe harbour in this storm," the broker says.
"The only solace is that, for several stocks, the market appears to have priced in a worse outcome than we have seen, at least so far: upgrading DWS to Buy."
Copyright (c) 2020 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.