Natixis: Jefferies upgrades to 'buy'
(CercleFinance.com) - Jefferies analysts said on Tuesday that they have upgraded their rating on the Natixis stock from "hold" to "buy".
In their research note, Jefferies analysts justify their increase by (1) the fact that the worst of the crisis occurred in Q2, (2) the arrival of a new CEO, who should focus on improving the profitability of the corporate and investment banking (CIB) business and (3) the group's encouraging outlook in terms of dividends.
The broker has also raised its target price for the share from 2.7 euros to 2.8 euros.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.