Natixis: Oddo still a buyer after results
(CercleFinance.com) - Oddo has confirmed its buy rating on the Natixis stock, along with its target price of 7.
35 euros, after the group announced its Q1 2018 results.
Net banking income came in at 2,441 million euros, up 4% in Q1 2018 and up 8% at constant exchange rates.
Including extraordinary items (-28 million net of tax in Q1 2018) and the IFRIC 21 impact (-151 million euros in Q1 2018), the group reported net income (group share) of 323 million euros, up 15% y-o-y.
However, based on consensus data, the share is trading at a premium relative to its sector, with a 24-month P/E of 11.1x, compared with a sector average of 9.5x, analysts add.
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.
35 euros, after the group announced its Q1 2018 results.
Net banking income came in at 2,441 million euros, up 4% in Q1 2018 and up 8% at constant exchange rates.
Including extraordinary items (-28 million net of tax in Q1 2018) and the IFRIC 21 impact (-151 million euros in Q1 2018), the group reported net income (group share) of 323 million euros, up 15% y-o-y.
However, based on consensus data, the share is trading at a premium relative to its sector, with a 24-month P/E of 11.1x, compared with a sector average of 9.5x, analysts add.
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.