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On Friday, RBC Capital Markets adjusted its stance on ABN Amro shares, upgrading the bank’s stock rating from Sector Perform to Outperform. The firm also increased its price target on the bank from EUR18.50 to EUR23.00. The upgrade comes as RBC Capital analysts see potential for the new management at ABN Amro to enhance profitability and reduce share price volatility.
The analysts at RBC Capital highlighted several areas where they believe the incoming management can make significant improvements. They noted the current valuation of ABN Amro’s shares and the limited progress priced in by the consensus, suggesting that the new CEO’s arrival marks a pivotal moment for the bank. The analysts expressed confidence in the new CEO’s ability to take action and drive a re-rating of the bank’s shares.
ABN Amro’s stock has been trading lower compared to the sector, but RBC Capital analysts see this as an opportunity for a turnaround. They anticipate that even modest progress on the identified self-help measures should contribute to a revaluation of the bank’s shares. The new CEO, while not widely known, is considered to have the relevant experience to steer the company towards success.
RBC Capital’s revised price target of EUR23.00 represents a significant increase from the previous target of EUR18.50. This adjustment reflects the analysts’ belief in the potential upside for the bank’s shares as the new management implements changes.
The upgrade and new price target for ABN Amro by RBC Capital Markets could signal a positive shift for the bank as it embarks on a path to improved profitability under its new leadership. The firm’s analysts have expressed a strong conviction in the effectiveness of the upcoming management actions and their impact on the bank’s future performance.
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