Report
Benoit Valleaux ...
  • Charlotte Vaisse

Vontobel : La 5e banque privée suisse avec une croissance attrayante

Nous initions la couverture de Vontobel avec une recommandation Surperformance et un objectif de cours de 65 CHF. Le groupe présente un potentiel de croissance à moyen long terme de l’activité (renforcé par l’acquisition d’une participation dans Ancala) et d’amélioration de sa rentabilité. (croissance annuelle moyenne du RN de 15%e entre 2023 et 2027) qui ne nous semble pas pleinement intégré par le consensus à ce stade (estimation ODDO BHF 1%-5% > au css. La valorisation actuell...
Underlying
VONTOBEL HOLDING AG

Vontobel Holding is a holding company. Through its subsidiaries, Co. is a traditional Swiss private banking group offering financial services to clients around the world. Co. is divided into three business divisions: Private Banking, Investment Banking, and Asset Management, as well as the Corporate Center (comprises Operations, Finance & Risk and Group Services). As of December 31, 2008 Co.'s total assets amounted to SFr15,531,800,000.

Provider
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.

Analysts
Benoit Valleaux

Charlotte Vaisse

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