BNP Paribas: Oddo slightly raises its price target


(CercleFinance.com) – Oddo BHF reiterates its ‘outperformance’ recommendation on BNP Paribas, ‘which benefits from favorable prospects for growth and profitability’ and slightly raises its price target from 71 to 74 euros, resulting from a slight upward revision of its EPS forecasts.

In the aftermath of the banking group’s annual results, the research office notes that while its revenues came out slightly below expectations, its targets for increasing net income and RoTE as part of its 2025 plan have been better than expected.

‘The stock is trading at multiples which remain low for us in view of the group’s outlook (16% discount compared to tangible equity of 78.7 euros at the end of 2021, while BNP Paribas should generate a RoTE of up to to 12% in 2025)’, adds the analyst.

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