(CercleFinance.com) – Deutsche Bank announced on Wednesday that it had raised its recommendation on Crédit Agricole shares, from ‘hold’ to ‘buy’, with a target price raised from 13.5 to 17 euros, the equivalent of ‘an upside potential of 27%.
In a study devoted to French banks, the analyst points out that CASA tends to outperform in an environment of low interest rates and controlled growth, due to its relatively capital-light business model (‘asset-light’). ).
With the prospect of upcoming rate cuts and a more buoyant economic environment, the intermediary says it is increasingly confident in the green bank’s ability to achieve its objectives by 2025.
Deutsche adds that the discount displayed by its stock vis-à-vis other European establishments is not justified, from its point of view, given its profitability levels and its ‘mix’ of activities.
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