DNB: shares rise after broker comments
(CercleFinance.com) - Shares of Norway's biggest bank DNB are up over 1.
2% on Wednesday following positive broker comments on the stock.
Morgan Stanley - which has an "overweight" rating on the share with a target price of 94 Norwegian kronor - said its sees "three reasons to buy" the share.
"DNB's appeal is growing set against rising political risks in the Eurozone," the broker sums up in a research note.
In particular, Morgan Stanley cites: (1) superior earnings growth driven by healthy macro and cost discipline, (2) gearing to an improving energy and (3) strong capital returns, adding that the share's valuation fails to reflect this.
DNB shares have risen to 150.6 Norwegian kronor in early-afternoon trading today, outperforming the Norwegian stock market, which is up 0.5%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
2% on Wednesday following positive broker comments on the stock.
Morgan Stanley - which has an "overweight" rating on the share with a target price of 94 Norwegian kronor - said its sees "three reasons to buy" the share.
"DNB's appeal is growing set against rising political risks in the Eurozone," the broker sums up in a research note.
In particular, Morgan Stanley cites: (1) superior earnings growth driven by healthy macro and cost discipline, (2) gearing to an improving energy and (3) strong capital returns, adding that the share's valuation fails to reflect this.
DNB shares have risen to 150.6 Norwegian kronor in early-afternoon trading today, outperforming the Norwegian stock market, which is up 0.5%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.