Credit Agricole: UBS still a buyer, cuts target price
(CercleFinance.com) - UBS reaffirms its "buy" recommendation for Crédit Agricole with an adjusted price target of E11.
5 to E12, implying a 12% growth potential for the French bank's share, with the broker pointing in particular to "good operational momentum".
"CASA's results were better than consensus forecast for pre-provision profits, loan losses and capital", UBS points out, which has therefore increased its EPS estimates by 4%-6%.
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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 to E12, implying a 12% growth potential for the French bank's share, with the broker pointing in particular to "good operational momentum".
"CASA's results were better than consensus forecast for pre-provision profits, loan losses and capital", UBS points out, which has therefore increased its EPS estimates by 4%-6%.
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.