(News Bulletin 247) – Jefferies reaffirms its ‘buy’ recommendation on KBC with a price target raised by 1% to 86 euros, before the publication by the Belgian bank, on August 10, of its results for the second quarter.
“We expect the second quarter publications to be a positive catalyst for ING and KBC,” he said, recalling that these two shares recommended for purchase are on his list of favorite stocks among European banks.
The broker expects KBC stock to receive support from ‘accelerating and positively surprising’ net interest income momentum, as well as the launch of share buybacks on the release.
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