(Boursier.com) — BNP Paribas camped at 65 euros this Friday on the Parisian market, while the broker Oddo BHF adjusted the slider from 79 to 81 euros with an opinion to ‘outperform’. Goldman Sachs is also buying the French bank, targeting a price of 83 euros. BNP Paribas’ operating environment is expected to improve in the coming years thanks to the rate cuts expected by the ECB from mid-2024 and a gradual resumption of activity in the capital markets, the broker indicates. .. The latter sees “an upward risk” on consensus estimates in the short and medium term. He also notes the stock’s relative underperformance over several years, which creates an attractive entry point…
Investors have recently welcomed the upward revision of the group’s savings plan and the confirmation of a distribution rate of 60%, which should allow a return to shareholders of around 20 billion euros cumulatively. over the three years 2024, 2025 and 2026. The banking giant has thus announced an acceleration and expansion of operational efficiency measures of around 400 ME recurring, thus bringing the objective of the 2022-2025 plan to 2.7 MdsE. This year’s net profit will also be higher than last year’s distributable income, the lender said…
Morgan Stanley, for its part, remains at ‘market weighting’ with a price target adjusted to 74 euros. The stock has recovered on average 20% since mid-February.
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