KBC Group: UBS maintains sell rating, raises TP
(CercleFinance.com) - UBS maintains its “sell” rating on KBC Group shares, although has raised its target price for them to 65 euros (from 60 euros), leaving downside potential of 18% for the Belgian financial institution's shares.
The broker explains that it has raised its forecasts before the publication of its Q3 results, due to lower expected loan losses. This should more than offset a lower non-life result (floods), analysts say.
The KBC share is up almost 0.5% in Brussels, a whisker short of the index.
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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.
The broker explains that it has raised its forecasts before the publication of its Q3 results, due to lower expected loan losses. This should more than offset a lower non-life result (floods), analysts say.
The KBC share is up almost 0.5% in Brussels, a whisker short of the index.
Copyright (c) 2021 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.