Credit Suisse Group (CS) Upgraded to “Buy” at Zacks Investment Research
Credit Suisse Group (NYSE:CS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $21.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.18% from the stock’s previous close.
According to Zacks, “CREDIT SUISSE GROUP and Winterthur offer investment products, private banking and financial advisory services, as well as insurance and pension solutions. Credit Suisse First Boston provides securities underwriting, sales and trading, financial advisory, investment research, venture capital and asset management services. Because they specialize in gaining a deep understanding of their clients’ financial needs, they know that no one’s needs are two-dimensional. 360° Choice. “
CS has been the subject of several other research reports. Barclays initiated coverage on Credit Suisse Group in a report on Tuesday. They issued an “underweight” rating for the company. Santander upgraded Credit Suisse Group from an “underperform” rating to a “buy” rating in a report on Tuesday, September 26th. Goldman Sachs Group restated a “buy” rating on shares of Credit Suisse Group in a report on Tuesday, December 5th. Citigroup restated a “buy” rating on shares of Credit Suisse Group in a report on Friday, December 1st. Finally, Societe Generale cut Credit Suisse Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $21.00.
Credit Suisse Group (NYSE:CS) last posted its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.09 EPS for the quarter. Credit Suisse Group had a negative return on equity of 2.45% and a negative net margin of 3.80%. equities research analysts predict that Credit Suisse Group will post -0.15 EPS for the current fiscal year.
Large investors have recently modified their holdings of the company. Jane Street Group LLC grew its holdings in shares of Credit Suisse Group by 555.7% during the 3rd quarter. Jane Street Group LLC now owns 194,189 shares of the financial services provider’s stock worth $3,068,000 after purchasing an additional 164,574 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Credit Suisse Group by 115.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 375,036 shares of the financial services provider’s stock worth $5,475,000 after purchasing an additional 200,715 shares during the period. HighTower Advisors LLC purchased a new stake in shares of Credit Suisse Group during the 2nd quarter worth about $335,000. Ingalls & Snyder LLC purchased a new stake in shares of Credit Suisse Group during the 3rd quarter worth about $1,603,000. Finally, FNY Partners Fund LP grew its holdings in shares of Credit Suisse Group by 10.9% during the 3rd quarter. FNY Partners Fund LP now owns 244,922 shares of the financial services provider’s stock worth $3,869,000 after purchasing an additional 24,000 shares during the period. Institutional investors and hedge funds own 2.84% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This news story was originally posted by American Banking News and is owned by of American Banking News. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international trademark & copyright laws. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2018/01/17/credit-suisse-group-cs-upgraded-to-buy-at-zacks-investment-research.html.
About Credit Suisse Group
Credit Suisse Group AG (Credit Suisse) is a financial services company. The Company’s segments include Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, Investment Banking & Capital Markets, Strategic Resolution Unit and Corporate Center. It offers a range of private banking and wealth management solutions to its clients in its Swiss Universal Bank, International Wealth Management and Asia Pacific divisions.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Credit Suisse Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credit Suisse Group and related companies with MarketBeat.com's FREE daily email newsletter.