KBC: UBS cuts target price
(CercleFinance.com) - While maintaining a "neutral" rating on KBC Group shares, UBS has reduced its target price for them from 65 euros to 61 euros, despite increasing its expectations for the Belgian banking institution following its Q1 2022 results.
"We continue to see downside risks to consensus forecasts primarily on higher costs, while we think rate hikes are largely reflected," the broker summarised.
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"We continue to see downside risks to consensus forecasts primarily on higher costs, while we think rate hikes are largely reflected," the broker summarised.
Copyright (c) 2022 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.