Photo credit © BNP Paribas
(Boursier.com) — BNP Paribas rose another 0.4% to 64.60 euros this Wednesday on the Paris market, while Morgan Stanley remains at ‘market weighting’ on the bank with an adjusted target of 70 to 74 euros. Goldman Sachs had previously raised its recommendation on the Rue d’Antin establishment to ‘buy’, targeting a price of 82.6 euros. The operational context of BNP Paribas should improve in the years to come thanks to the rate cuts expected by the ECB and a gradual resumption of activity on the capital markets, indicates the American broker. 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 also 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 in cumulative over the three years 2024, 2025 and 2026. The banking giant 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…
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