(News Bulletin 247) – Credit Suisse reaffirms its ‘outperformance’ opinion on ABN Amro, with a price target raised to 21 euros, after the publication of a quarterly net profit 40% higher than forecast, with optimism for the continuation favorable trends.
Continuing to believe the Dutch bank can outperform the consensus on both cost and share buybacks, the broker raises its EPS forecasts by around 23% and 6% for 2023 and 2024, leaving them above 30%. above consensus.
‘ABN Amro remains one of our top picks in the sector for total return (over 17% in 2023 vs the sector at around 11%), with earnings uplifts providing an additional catalyst,’ he continued.
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