(News Bulletin 247) – AlphaValue confirms its buy rating on the Commerzbank share, with a six-month price target of 13 euros reflecting a potential increase of more than 30% compared to the current price.
The analyst reports that while Commerzbank’s turnover fell by 4.5% in the 1st quarter, net profit almost doubled (+95%) at the same time, to 580 million euros (higher by 21 % at consensus of 481 ME), while operating income increased by nearly 60% to 875 million euros.
In this context, Commerzbank confirmed its objectives for the 2023 financial year, ‘including a net result well above the 2022 financial year’, reports AlphaValue.
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