KBC: UBS still on hold but raises TP

(CercleFinance.com) - UBS reinstates its "neutral" recommendation on KBC Group shares, although has increased its target price for them to 65 euros (from 60 euros), with its new target price close to the Belgian bank's current share price (67 euros, +2%), citing a leverage effect on rates.


"We increase forecasts for KBC ahead of Q1 on higher expected interest rates, partially offset by higher expected inflation," the broker summarised.


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