Millennium BCP : Still offers significant re-rating potential!
>Outperform rating reiterated – target price lowered to € 0.37 (vs € 0.40) - A recent contact with the company confirmed our Outperform rating on the stock, with significant recovery momentum maintained in terms of the underlying operating performance and profitability in the short to medium term, as well as the notable strengthening of solvency. In our view, this remains insufficiently valued at this stage despite the stock’s recent re-rating (+78% YTD, +63pp vs the ...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.
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.
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