Credit Suisse: shares edge higher after BarCap upgrade
(CercleFinance.com) - Credit Suisse shares are up over 1% on Monday after Barclays Capital upgraded the stock to "equal weight" on valuation grounds.
In a research note, BarCap says the risk-reward is "more balanced at current prices."
"Since mid January the shares are down c.20%, similar to the STOXX Europe 600 Banks, and are now below our price target," it wrote in the report.
"We continue to see downside to consensus estimates (...) but think that the market is already there and the risk reward is more balanced," it added.
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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.
In a research note, BarCap says the risk-reward is "more balanced at current prices."
"Since mid January the shares are down c.20%, similar to the STOXX Europe 600 Banks, and are now below our price target," it wrote in the report.
"We continue to see downside to consensus estimates (...) but think that the market is already there and the risk reward is more balanced," it added.
Copyright (c) 2018 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.