Credit Agricole: Oddo raises target price

(CercleFinance.com) - Oddo maintains its "outperform" rating on Crédit Agricole shares, having increased its target price for them from 12.
8 euros to 13.2 euros.

The broker highlights the group's strong growth in revenues; +8.8% as reported, to 6,330 million euros, a figure that is well above expectations (the consensus was looking for 5,730 million euros, while Oddo expected a bit less at 5,642 million euros).

It notes that all of its businesses recorded revenue growth in H1.

Following this publication, Oddo has significantly raised its 2022 EPS forecast (+19.9%), nudging up its revenue forecasts for 2023/24.

Analysts still believe that the share's current price does not reflect the group's growth prospects or its very good business mix.


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