BNP Paribas: Oddo BHF remains positive after Q2 results

(CercleFinance.com) - Oddo BHF reiterates its 'outperform' opinion on BNP Paribas shares, adding a euro to its target price, from E78 to E79, to take into account the good Q2 net income announced by the banking group.


The broker highlights 3% above-expectations revenues, driven by equity market activities, and deems 'very cautious' the target maintained by the group for 2024 of a net income of over E11.2bn.

The stock remains very attractive in terms of risk/reward, as BNP Paribas is highly diversified with a solid balance sheet and prospects for revenue growth, the analyst says, pointing to a value of just 0.72x tangible equity at end-June.


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