BCP Banco Comercial Portugues S.A.

Banco Comercial Português, S.A. informa sobre notificação de aquisição de títulos

Banco Comercial Português, S.A. informa sobre notificação de aquisição de títulos

Banco Comercial Português, S.A. informa sobre notificação de aquisição de títulos

Anexo



EN
09/11/2022

Underlying

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Reports on Banco Comercial Portugues S.A.

Benoit Valleaux ... (+2)
  • Benoit Valleaux
  • Steven Gould

Millennium BCP : Le potentiel de rerating n’est pas encore épuisé à CT...

Nous réitérons notre opinion Surperformance avec un OC porté à 0.92 € vs 0.78 €, après un T3 rassurant et alors que la fin des litiges en Pologne se profile. Nous identifions encore un potentiel de rerating intéressant (~15% vs secteur ~+4% en moyenne) en dépit de sa belle performance boursière sur la période récente (+77% YTD) sur fond de redressement opérationnel (RoE +6 pt entre 2024 & 2028e) et de retour à l’actionnaire (9% en moyenne sur 2025-28e vs

Benoit Valleaux ... (+2)
  • Benoit Valleaux
  • Steven Gould

Millennium BCP : Still some re-rating potential in the short term

We are reiterating our Outperform rating with a higher target price of € 0.92 vs € 0.78, after a reassuring Q3, with the end of litigation in Poland in sight. We still identify attractive re-rating potential (~15% vs sector ~+4% on average) despite its impressive performance recently (+77% YTD), with the operating recovery (RoE +6 pts between 2024 and 2028e) and shareholder returns (9% on average over 2025-28e vs

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