Julius Baer: Credit Suisse sticks to rating
(CercleFinance.com) - Julius Baer has announced record H1 earnings.
The Swiss private bank reported that its H1 2020 adjusted net profit rose by 34% to 524 million Swiss francs, the highest in the Zurich based group's history.
"It reiterated 2022 targets including a pretax profit goal (>10% growth) which is c17% ahead of consensus," Credit Suisse said.
"We have trimmed 2020/21 EPS by c2% leaving 2022 EPS and our price target unchanged. Our EPS estimates are still c5-10% ahead of consensus," the analyst adds.
Following this publication, Credit Suisse confirms its Outperform rating advice on the stock, along with a target price of 55 Swiss francs (31% upside).
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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 Swiss private bank reported that its H1 2020 adjusted net profit rose by 34% to 524 million Swiss francs, the highest in the Zurich based group's history.
"It reiterated 2022 targets including a pretax profit goal (>10% growth) which is c17% ahead of consensus," Credit Suisse said.
"We have trimmed 2020/21 EPS by c2% leaving 2022 EPS and our price target unchanged. Our EPS estimates are still c5-10% ahead of consensus," the analyst adds.
Following this publication, Credit Suisse confirms its Outperform rating advice on the stock, along with a target price of 55 Swiss francs (31% upside).
Copyright (c) 2020 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.