BNP Paribas: Oddo confirms rating after results

(CercleFinance.com) - BNP Paribas published 2019 net income, group share of 8,173 million euros, up 8.
6% (+4.7% excluding exceptional items), with gross operating income of 13,260 million euros, up 11.2% for its operating divisions.

Following this announcement, Oddo confirms its buy rating on the share, with a target price of 61.50 euros.

Oddo believes that the clarifications reduce concerns with regulatory adjustments that will more than offset the overall impacts of Basel 3.

BNPP would display a RoTE higher than the CoE which is key for the ECB, Oddo says.

Forecasts and recommendation remain unchanged given the upside potential of 25%, it says.


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