ABN Amro CMD expectations sky high, leaving limited room for positive surprise
ABN Amro has had a tremendous run this year. There is a very positive story to tell about ABN Amro, underpinned by a number of solid management actions taken this year. Note that we even included the stock in our Dynamic Top Picks List at the start of the year. However, we believe the market is frontloading a lot of the value already in today's share price. Expectations for the November 25th capital markets day are very high, to the extent it will be hard for ABN to positively surprise.Taking into account significant cost efficiency gains and capital optimizations in the coming years, we increase our target price to €25.5. Given no upside to the current share price, we stick to our Hold recommendation.
ABN Amro Bank NV is a bank based in the Netherlands. The Bank provides various financial products and services across a variety of channels, including its Mobile Banking app and Internet Banking. The Bank's product portfolio includes insurances, mortgages, savings, investments, loans and payments, among others. The Bank serves retail, private and corporate clients worldwide.
We are a financial services provider for several types of professional clients, each with distinct needs.
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