KBC: AlphaValue upgrades to 'reduce'
(CercleFinance.com) - AlphaValue has upgraded the stock of Belgian financial-services group KBC to "reduce" from "sell," after the independent equity research house boosted its earnings expectations for 2021 as it expects lower loan losses this year.
"While the level should remain very high (...), the most pessimistic scenario is unlikely to materialise in the end (at least in the short term...)," the analyst said in a note.
AlphaValue has a six-month target price of 58.3 euros, which still represents downside potential of 3.6%.
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