KBC Group (OTCMKTS:KBCSY) Raised to “Buy” at Zacks Investment Research

KBC Group (OTCMKTS:KBCSY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The firm currently has a $47.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential upside of 11.03% from the stock’s current price.

According to Zacks, “KBC Group NV is an integrated bank-insurance group, catering mainly for retail, private banking, SME and mid-cap clients. Its operating segment consists of Belgium Business, Czech Republic Business, International Markets Business and Group Centre. The Belgium Business segment engages in the retail and private banc assurance activities. The Czech Republic Business segment comprises all KBC’s activities. The Group Centre segment includes the operating results of the group’s holding-company activities. The International Markets Business segment comprises the activities conducted by entities in the other Central and Eastern European core countries. KBC Group NV is headquartered in Brussels, Belgium. “

KBCSY has been the subject of several other research reports. Credit Suisse Group upped their price target on shares of KBC Group from €70.00 ($79.55) to €74.00 ($84.09) and gave the stock a “neutral” rating in a research report on Wednesday, October 20th. Exane BNP Paribas lowered shares of KBC Group from a “neutral” rating to an “underperform” rating in a research report on Monday, November 15th. Cheuvreux raised shares of KBC Group from a “hold” rating to a “buy” rating in a research report on Monday, September 27th. Morgan Stanley upped their price target on shares of KBC Group from €81.00 ($92.05) to €85.00 ($96.59) and gave the stock an “equal weight” rating in a research report on Friday, October 8th. Finally, JPMorgan Chase & Co. lowered shares of KBC Group from an “overweight” rating to a “neutral” rating in a research report on Monday, October 11th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.29.

KBCSY stock traded up $0.07 on Thursday, hitting $42.33. 25,978 shares of the company were exchanged, compared to its average volume of 44,726. KBC Group has a twelve month low of $33.89 and a twelve month high of $49.43. The business’s fifty day moving average is $45.49 and its two-hundred day moving average is $42.28. The stock has a market capitalization of $35.28 billion, a price-to-earnings ratio of 11.66 and a beta of 1.42.

KBC Group Company Profile

KBC Group NV engages in the provision of integrated bank-insurances. It operates through the following segments: Belgium Business; Czech Republic Business; and International Markets Business Unit. The Belgium Business segment engages in the retail and private banc assurance activities in Belgium. The Czech Republic Business segment comprises all KBC’s activities in the Czech Republic.

See Also: What kind of dividend yield to CEF’s pay?

Get a free copy of the Zacks research report on KBC Group (KBCSY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for KBC Group (OTCMKTS:KBCSY)

Receive News & Ratings for KBC Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KBC Group and related companies with MarketBeat.com's FREE daily email newsletter.