Credit Suisse : Upset in prime brokerage largely priced in but fundamentals uncertain
>Conclusions – efficient market but persistent uncertainties - The direct and indirect impacts of the trading losses in prime brokerage and the other recent difficulties look to be largely reflected in the current valuation. The downward revision to our target price (CHF 10.2 vs CHF 12.3) takes account of the market correction, also factoring in these impacts. With a target price close to the latest close, the upside on Credit Suisse corresponds to the median level of...Credit Suisse is a financial services provider based in Switzerland. Co. is active as an integrated bank. Co. operates through two global divisions, Private Banking and Corporate & Institutional Banking. Co. offers comprehensive advice and a broad range of financial solutions to private, corporate and institutional clients primarily domiciled in Switzerland. Co. maintains operations in three regionally focused divisions: Swiss Universal Bank, Asia Pacific and International Wealth Management serving Western Europe, Central and Eastern Europe, Latin America and Africa.
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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