BNP Paribas: Oddo still a buyers, adjusts target price
(CercleFinance.com) - Oddo BHF reiterates its "buy" recommendation on the BNP Paribas share, having nudged up its target price from 50.
1 euros to 50.3 euros (45% upside potential), following a market reaction on risks that is not really surprising after the bank published its Q2 results.
The broker has raised its forecasts for the Group by 11.7% for 2020 - essentially corresponding to the surprise for CIB in Q2 - and by 2.6% for 2021 - as a result of several limited adjustments, without any fundamental change in the outlook.
The non-use of BNPP's leeway in Q2 regarding provisioning reinforces the broker's view that the actual level of risk, net of existing provisions, is well below market concerns, the analyst said.
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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.
1 euros to 50.3 euros (45% upside potential), following a market reaction on risks that is not really surprising after the bank published its Q2 results.
The broker has raised its forecasts for the Group by 11.7% for 2020 - essentially corresponding to the surprise for CIB in Q2 - and by 2.6% for 2021 - as a result of several limited adjustments, without any fundamental change in the outlook.
The non-use of BNPP's leeway in Q2 regarding provisioning reinforces the broker's view that the actual level of risk, net of existing provisions, is well below market concerns, the analyst said.
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.