Credit Suisse: Barclays upgrades stock
(CercleFinance.com) - On Tuesday Barclays upgraded its rating on the Credit Suisse share from "equal weight" to "overweight", while raising its target price from 12.
5 Swiss francs to 14 Swiss francs.
According to the British broker, the Swiss bank should benefit from its exposure to the buoyant SPAC segment, an investment vehicle that is solely dedicated to making acquisitions.
While the group's market share is expected to decline from 16%-17% in 2020 to 10%-11% this year, Credit Suisse remains a "leader" in the sector and IPOs in which it has participated recently should support its revenues in the coming years, Barclays says in its report.
Pretty much flat at lunchtime on Tuesday, the Credit Suisse share is resisting a bearish Swiss SMI index (-1.3%).
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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.
5 Swiss francs to 14 Swiss francs.
According to the British broker, the Swiss bank should benefit from its exposure to the buoyant SPAC segment, an investment vehicle that is solely dedicated to making acquisitions.
While the group's market share is expected to decline from 16%-17% in 2020 to 10%-11% this year, Credit Suisse remains a "leader" in the sector and IPOs in which it has participated recently should support its revenues in the coming years, Barclays says in its report.
Pretty much flat at lunchtime on Tuesday, the Credit Suisse share is resisting a bearish Swiss SMI index (-1.3%).
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.