BNP Paribas: Oddo maintains buy rating after quarterly resul
(CercleFinance.com) - Oddo BHF has reiterated its "outperform" rating on BNP Paribas shares, maintaining its target price of 68 euros for them, following the bank's publication of excellent Q1 results - despite the crisis.
The broker said that BNP Paribas benefited from a very good commercial momentum in Q1, capitalising on the strong competitive position of its platforms and very sound risk management.
The broker also considers that the French financial institution's stock is trading at very low multiples that do not reflect the group's favourable outlook and low risk profile.
BNP Paribas shares are up almost 2% this morning, outperforming a slightly negative index.
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