Oddo BHF maintains its Outperform rating on Crédit Agricole shares, with a slightly higher price target, from 14.4 to 15 euros.

With the banking group due to publish its net income (NI) on February 8, the analyst expects Q4 revenues of €6,238m, up 4.5% year-on-year and slightly ahead of consensus (€6,163m).

"We forecast NI of €6,409m (+17.9%) in 2023, with the group achieving its strategic plan target of NI > €6bn in 2025 two years ahead of schedule", adds the broker.

According to Oddo BHF, Crédit Agricole SA will continue to benefit from favorable operating trends in the medium/long term, particularly in asset gathering, and its organic growth will continue to be reinforced by targeted external growth operations.

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