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CaixaBank : CMD 27 November: the next catalyst…

>New strategic plan = new catalyst - CaixaBank is due to present its 2019-2021e strategic plan on 27 November. We reiterate our positive call (Buy recommendation, target price of € 4.6) ahead of this event, which should be the next catalyst for the stock. The valuation (0.9x 2018e BV for 2019e RoE >9%) remains attractive at the current share price in light of the fundamentals and this CMD in prospect.The group should achieve the main financial objectives of its ...
Underlying
CaixaBank SA

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.

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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.

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