ABN Amro: UBS downgrades to 'neutral'.
(CercleFinance.com) - UBS has downgraded its rating on ABN Amro from "buy" to "neutral" and has trimmed its target price from 25.
8 euros to 25.5 euros after the share's strong recent performance.
The broker points out that ABN has been the best-performing Benelux bank over the past 6 and 12 months, outperforming the STOXX Europe 600 Banks index by nearly 10% over the past year.
And while the Dutch bank's dividend yield remains above the sector average, UBS does not think that this is enough to maintain a "buy" rating. It now prefers rival ING.
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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.
8 euros to 25.5 euros after the share's strong recent performance.
The broker points out that ABN has been the best-performing Benelux bank over the past 6 and 12 months, outperforming the STOXX Europe 600 Banks index by nearly 10% over the past year.
And while the Dutch bank's dividend yield remains above the sector average, UBS does not think that this is enough to maintain a "buy" rating. It now prefers rival ING.
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.