Report
Benoit Valleaux ...
  • Steven Gould

Millennium BCP : Q2 2022: solid underlying operating performances vs negative one-offs in Poland

>Outperform rating reiterated – target price raised to € 0.22 (vs € 0.21) - We reiterate our positive stance on the stock following the publication of Millennium BCP’s Q2 2022 figures, still considering that the significant momentum for a recovery in profitability in the short and medium term is not sufficiently factored into the current share price despite the factor of risk/pressure stemming from the foreign-currency loan litigation and the foreseeable (negative) co...
Underlying
Banco Comercial Portugues S.A.

Banco Comercial Portugues is a privately-owned bank that provides a range of banking activities and financial services in Portugal and abroad, with a focus on commercial banking, corporate and investment banking and asset management and private banking. Co. operates in the following segments: Portugal, which consists of retail banking (including ActivoBank), companies (including companies and corporate and investment banking), asset management and private banking, and non-core business portfolio; and foreign activity, which consists of Poland, Angola, and Mozambique. As of Dec 31 2014, Co. had total assets of Euro76.36 billion.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Benoit Valleaux

Steven Gould

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