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Major banking analysts lower their outlook for Nordea

Thursday, 25 October 2012
According to analysis updates, leading banks such as Nomura, Morgan Stanley, RBC and Deutsche Bank are adjusting down all their target price of Nordea stocks and shares after Wednesday's report. It is only Macquarie now, which has chosen to revise up its price target for bank shares.

Macquarie notes that Nordea earning did not meeting expectation but still feels that income there is lots of prospects in the company and thus raises its target price for its shares to Skr65, from the previous Skr62, according to an analysis on Thursday morning, reports Swedish business daily, Dagens Industri. The target price is based on a "Sustainable return methodology".

Deutsche Bank indicates €6.70 as new price target, down from €7.40. Both RBC Capital Markets and Morgan Stanley adjusts down target price of Nordea with Skr2 Skr 64 and Skr 66.

Nomura Equity Research lowers its target price to Skr64, from the previous Skr65, continuing with the recommendation to decrease.

Credit Suisse maintains target price of Skr67 and recommendation neutral despite estimates of net interest income being adjusted down. This is compensated almost entirely by higher commission income and lower taxes, assesses Credit Suisse in an analysis on Thursday morning, reports Swedish business daily Dagens Industri.
by Scancomark.com Team

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