Natixis: UBS upgrades to buy.
(CercleFinance.com) - Previously neutral on the Natixis stock, this morning UBS upgraded its rating to buy, with analysts expecting a significant increase in the dividend for fiscal year 2017.
The broker has also raised its target price for the share from 6 euros to 7.10 euros.
"We believe the market underestimates Natixis' strong dividend distribution capacity, which derives from its well implemented, asset-light business model," UBS argues in a research report.
UBS is therefore more optimistic than the consensus in terms of
dividends: after 0.35 euro for 2016, analysts expect 0.40 euro for 2017. This corresponds to a dividend yield of around 6%.
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.
The broker has also raised its target price for the share from 6 euros to 7.10 euros.
"We believe the market underestimates Natixis' strong dividend distribution capacity, which derives from its well implemented, asset-light business model," UBS argues in a research report.
UBS is therefore more optimistic than the consensus in terms of
dividends: after 0.35 euro for 2016, analysts expect 0.40 euro for 2017. This corresponds to a dividend yield of around 6%.
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.