KBC: Oddo still a buyer after quarterly results

(CercleFinance.com) - Oddo BHF reiterates its "buy" rating on the KBC share, while raising its target price from 61 euros to 62 euros (26% upside), given the solid operational performance and balance sheet situation, with the group's updated 2020 guidelines remaining realistic and reassuring.


Above all, analysts still appreciate the high and reliable level of KBC's pre-provisional capacity, which they believe is a key factor in the current context of expected hikes in future risk provisions.

Analysts are inching up their estimates for 2020/2022 (+3% on average) and stress that their new target price still suggests interesting upside potential at the share's current price (almost 25%) given the quality of its fundamentals.


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