KBC Investors Hold Back on Timing Concerns, not Earnings Risk
Dow Jones09-30 19:45
1144 GMT - KBC Group investors might be overly cautious by waiting for a single catalyst this year, Jefferies' Theo Massing and Joseph Dickerson write. Investor pushback against Jefferies' initiation of KBC coverage with a buy recommendation has focused on timing and not earnings risk, the analysts note. Investors broadly accept KBC has resilient earnings, a quality franchise and structural central and eastern Europe growth. Jefferies notes that it still prefers ABN AMRO Bank to KBC. "However, investors may be setting the bar too high by waiting for a single end-2026 catalyst," the analysts say. Jefferies has a target price of 155 euros on the stock. Shares are down 0.4% at 130.80 euros.
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