(CercleFinance.com) – KBC Group gained almost 2% in Brussels, helped by an analysis from UBS which reaffirmed its ‘neutral’ recommendation on the stock with a price target raised from 60 to 65 euros, a new target close to the current share price of the Belgian banking establishment, highlighting a leverage effect on rates.
“We are increasing our guidance for KBC ahead of the first quarter due to higher expected interest rates, partially offset by higher anticipated cost inflation,” the brokerage explained in its note summary.
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