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DNB - DNB ASA News Story

NOK182.7 3.3  1.9%

Last Trade - 14/05/21

Large Cap
Market Cap £23.98bn
Enterprise Value £55.88bn
Revenue £5.01bn
Position in Universe 30th / 1832

BUZZ-Banking: Berenberg sees "double whammy" to earnings

Thu 26th March, 2020 7:46am
** Berenberg slashes its earnings estimates for European and
U.S. banks by an average 30% on a "double whammy" from a
slowdown in activity and policy action designed to ease the
economic hit from the coronavirus pandemic
    ** The broker also says it does not believe there is
widespread value in the banking sector as it trades at 8.9x its
2021 EPS estimates, a 6% discount to historic multiples
    ** It upgrades Goldman Sachs  GS.N  and Wells Fargo  WFC.N 
to "hold" from "sell", citing a 15% discount in Goldman Sachs's
valuation and Wells Fargo's capacity to pursue meaningful cost
    ** Berenberg also says it believes there is material upside
to the share prices of AIB  AIBG.I , Barclays  BARC.L , DNB
 DNB.OL  and KBC  KBC.BR  
    ** Its top sell ideas include Deutsche Bank  DBKGn.DE , HSBC
 HSBA.L  and Intesa  ISP.MI  

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