Report
Johann Scholtz
EUR 101.80 For Business Accounts Only

We like Credit Suisse's renewed focus on capital and Asia, but not its focus on investment banking.

Now at the midway point of its three-year restructuring plan, Credit Suisse is making further progress on improving its underlying business after collecting CHF 4.1 billion in its recent rights offering. Total adjusted results before taxes saw a boost of CHF 394 million to a total of CHF 684 million versus last year, owing to solid growth and lower losses on the strategic resolution unit. We maintain our CHF 12.20/$12.30 fair value estimate, along with our narrow moat rating.
International wealt...
Underlying
Credit Suisse Group ADS

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Johann Scholtz

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