(News Bulletin 247) – Berenberg raised its price target on BNP Paribas on Wednesday, raising it from 55 to 70 euros while renewing its recommendation to ‘hold’ on the stock.

In a research note, the analyst recalls that the French banking group has slightly outperformed its French counterparts on the stock market over the past 12 months.

If he points out that the establishment’s development prospects are not as promising as those of the rest of the sector, the intermediary believes that its ‘diversified’ economic model limits the downside potential of the title.

As for its level of capital, it is today far from being excessive from the point of view of Berenberg, which limits according to him the scenario of important redistributions to the shareholders.

If BNP remains his preferred banking stock, the professional judges that its current level of valuation – which he judges in line with its historical discount of 10% compared to the rest of the sector – takes into account its prospects in terms of growth in results.

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