Crédit Agricole: share hit by a broker downgrade

(CercleFinance.com) - The Crédit Agricole share is down 0.
8%, after UBS downgraded its "buy" rating to "neutral" at UBS, having cut its corresponding target price from 13.1 euros to 11.6 euros; it considers that the group's CMD scheduled for 6 June will not be a catalyst.

"Hard to defend a case for higher revenue and lower cost growth than what's already in consensus," says the broker, who now sees just 4% upside potential in the bank's share price.


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