Credit Suisse: shares higher after broker upgrade.
(CercleFinance.com) - Credit Suisse Group's shares, listed on the SIX Swiss Exchange, are up almost 2% on Friday, after RBC Capital Markets upgraded its rating on the shares, for whom it sees room for further re-rating.
CS Group shares were up 1.8% at 15.8 Swiss francs in late-morning trading, while the Zurich market was up just 0.2% in comparison.
RBC said in a report sent to clients that it has upgraded its rating on the shares from "sector perform" to “outperform," with a higher target price of 18 Swiss francs (vs. 15.5 Swiss francs), to reflect the prospect of improving returns supported by cost cutting and the run down of the bank's non-core assets.
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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.
CS Group shares were up 1.8% at 15.8 Swiss francs in late-morning trading, while the Zurich market was up just 0.2% in comparison.
RBC said in a report sent to clients that it has upgraded its rating on the shares from "sector perform" to “outperform," with a higher target price of 18 Swiss francs (vs. 15.5 Swiss francs), to reflect the prospect of improving returns supported by cost cutting and the run down of the bank's non-core assets.
Copyright (c) 2017 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.