(CercleFinance.com) – UBS reaffirms its ‘sell’ recommendation on KBC Group despite an adjusted price target of 70 to 72 euros, a new target still leaving a downside potential of 10% for the title of the Belgian banking establishment.
‘We believe net interest income trends will worsen in 2022, suggesting net interest income could decline in 2023 before ECB rate hikes take effect,’ says the broker. .
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