CaixaBank : A profile worth playing in the context of a crisis...
>Buy confirmed - target price unchanged at € 2.4 - We reiterate our positive call on the stock (Buy recommendation) with an unchanged target price of € 2.4. We have revised down our 2020-2022 net profit forecasts by an average of 7% (mainly driven by the cost of risk) and this is offset by a reduction, at this stage, to the haircut to our valuation due to the impact of IRPH. CABK (Caixa Bank) has, in our opinion, real strengths (business model, capital, etc.) e...Caixabank is an investment company based in Spain. Co. is involved in investment portfolio management activities across two areas: Services and Financial Business and Insurance. In the services area, Co. provides investment solutions for companies involved in the infrastructure, energy, services and entertainment sectors. In the financial business and insurance area, Co. is engaged in the investments for international banks, insurance and specialist financial services. Co. focuses most of its banking investments in India, China, the U.S., and Central and Eastern Europe with a particular interest in retail banking. Co. is also involved in the disinvestments activities.
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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