Commerzbank: Oddo BHF cuts target price

(CercleFinance.com) - Oddo BHF reiterates its 'outperform' rating on Commerzbank shares, while trimming its target price from E15.
5 to E15, following a downward adjustment of its earnings estimate (-5% on average over 2024-26).

According to the broker, the previous day's publication confirmed the overall positive trend in both operating and balance sheet terms, and confirmed the credible prospect of a significant improvement in shareholder return in the short to medium term.

Valuation remains attractive, given the company's now solid fundamentals and high yield potential, Oddo BHF adds, which points to upside potential of nearly 40% for the stock, compared with an average of around 30% within its sector coverage.


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