ZKB downgrades EFG International, deems stock 'fairly valued'
** Shares in Swiss bank EFG International EFGN.S slide 1.2%, paring most of Wednesday's gains, after Zuercher Kantonal Bank (ZKB) downgrades the stock to "market perform" from "outperform"
** The broker views the stock as "fairly valued" after its good share performance in recent years
** EFG shares have risen 9% so far this year, and the stock is on track for its fourth consecutive year of gains with the shares doubling in value from the end of 2020
** "EFG is well positioned to benefit from the structural growth profile of the private banking market," ZKB says
** Coupled with the continued hiring of new client relationship managers and operating leverage, this should drive an EPS CAGR of 3% for 2023-2026, it says
** It notes EFG's capital surplus of CHF 0.5 bln ($581.5 mln) can either be used for external growth or distributed to shareholders as a special dividend
** Given the recent increase in M&A in Swiss private banking, the broker sees the possibility of further deals, with EFG being a serious candidate to act as a consolidator
** In May, sources said Julius Baer BAER.S had held talks with EFG about a potential takeover, adding however that the discussions had stopped
($1 = 0.8599 Swiss francs)
Reporting by Linda Pasquini
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
