(News Bulletin 247) – Oddo BHF reiterates its ‘outperformance’ recommendation on Crédit Agricole, with a price target raised from 13.3 to 13.6 euros, following the publication of a ‘very good quarterly result’ and the increase of its 2023 estimates for the bank.
‘The group benefited from a very good underlying operational dynamic’, judges the analyst, for whom ‘the rise in CET1, beyond the group’s target objective (11.0%) will also give room for maneuver to pursue its growth.
Oddo BHF continues to believe that the very good business mix is poorly valued at the current share price, which represents 0.82 times tangible equity at the end of March, while Crédit Agricole is aiming for a 2025 RoTE above 12%.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
