BNP Paribas : The re-rating linked to an improvement in operational performance will now be for 2019
>An average downward revision to our EPS forecasts for 2018-2020e of 3.5% - Following the publication of Q3 2018 results, we have revised down our forecasts for 2018-2020e EPS by 3.5% to factor in the slower pace of revenue growth, notably at the CIB and BNL activities, and a slightly higher cost of risk. As a result of this adjustment we have cut our target price to € 68 (vs € 71.20), i.e. upside potential of 48%. We are sticking with our Buy recommendation because w...BNP Paribas is engaged in the provision of banking and financial services. Co.'s business activities are divided into two segments: Retail Banking & Services and Corporate and Investment Banking. The Retail Banking and Services business includes domestic markets and international financial services. The Corporate and Institutional Banking comprises of corporate banking, global markets, and securities services. Other activities include principal investments, which related to Co.'s central treasury function, some costs related to crossbusiness projects, the residential mortgage lending business of personal finance, and certain investments.
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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