Amundi: UBS now a buyer
(CercleFinance.com) - On Friday UBS upgraded its rating on the stock of the French asset manager Amundi stock from "neutral" to "buy", having increased its corresponding target price from 73 euros to 79 euros (current price: 63 euros, -1%).
In a research report, the Swiss broker says it sees an attractive entry point for the stock after its recent underperformance, marked by a total return of just 2% over the last six months, compared with a 22% gain for the sector.
In addition to an "attractive" valuation, UBS also highlights strong surplus capital, as well as a favourable momentum for net new money.
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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.
In a research report, the Swiss broker says it sees an attractive entry point for the stock after its recent underperformance, marked by a total return of just 2% over the last six months, compared with a 22% gain for the sector.
In addition to an "attractive" valuation, UBS also highlights strong surplus capital, as well as a favourable momentum for net new money.
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.