Natixis: Goldman Sachs changes to “buy”, targets 5.4 euros
(CercleFinance.com) - Based on the consideration that the Natixis share is a “valuable asset now at good value”, Goldman Sachs has upgraded its recommendation to 'buy' from a previously 'neutral' position.
Although the target price has been pared down from 5.9 to 5.4 euros, the target price over 12 months augurs growth potential of over 45%.
The analysts welcome the overhaul of the bank's economic model, operational since 2009, and the profitability generated by Natixis over and above comparable shares. This has allowed the share to post overall performance (including dividend) of approximately 20% per year, calculates the analysts' firm.
It is true that the recent difficulties at the subsidiary H2O shook the group and its 'multi-boutique' management model, but not to the point of derailing it as a whole, estimates Goldman Sachs. Finally, after a fall of approximately one-quarter in three months, the Natixis share is now judged “attractively priced”.
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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.
Although the target price has been pared down from 5.9 to 5.4 euros, the target price over 12 months augurs growth potential of over 45%.
The analysts welcome the overhaul of the bank's economic model, operational since 2009, and the profitability generated by Natixis over and above comparable shares. This has allowed the share to post overall performance (including dividend) of approximately 20% per year, calculates the analysts' firm.
It is true that the recent difficulties at the subsidiary H2O shook the group and its 'multi-boutique' management model, but not to the point of derailing it as a whole, estimates Goldman Sachs. Finally, after a fall of approximately one-quarter in three months, the Natixis share is now judged “attractively priced”.
Copyright (c) 2019 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.