EnglishRaiffeisen Zentralbank Österreich (RZB) has lowered its 12 month target price for the shares of BRD-Groupe Societe Generale (BRD) from 17 lei to 15.4 lei and has maintained the "buy" recommendation for the shares, according to a report by Austrian group RZB.
Yesterday at noon, the shares of BRD were trading at 11.9 lei on the Bucharest Stock Exchange, down 2.46% from the price of 12.2 lei at the Friday"s close. The new target price for shares of BRD is 26.2% higher than the close of Friday"s session.
Due to the fact that the financial forecast of the estimates concerning the profitability of BRD, Raiffeisen analysts have lowered their forecast on the bank"s ROE from 16.5% to 15.75%.
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