(News Bulletin 247) – Oddo BHF reiterates its ‘outperformance’ recommendation on BNP Paribas with a price target raised from 75 to 77 euros ‘to integrate the good revenue dynamic’ which has led it to raise its EPS forecasts.
The research department indeed points to an increase in underlying income of 5.3% for the bank in the first quarter, with a low cost of risk and the group’s forecast of a significant increase in its distributable net income.
Oddo BHF also highlights a balance sheet which “remains extremely solid”, and underlines that the title “is still traded at very low stock market multiples (around 0.66 times its tangible equity for a 2025 RoTE of around 12%) ‘.
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