Natixis: stock boosted by broker upgrade

(CercleFinance.com) - The Natixis stock is about 4% on Thursday morning, boosted by upbeat comments from Barclays, with their analysts upgrading the French bank's stock from "equal weight" to "overweight," while maintaining their target price at 3.
40 euros (32% upside potential).

"At 0.5x TNAV and with earnings estimates significantly rebased, we think the risk/reward is favourable," the broker says in its comments.

"This is particularly the case with the change in CEO and the promise of a new strategic plan, due to be announced in June 2021," it continues, pointing out that Natixis "has historically shown its willingness for dramatic corporate action".


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