Goldman Sachs analyst Chris Hallam downgraded Credit Agricole to Sell from Neutral with a price target of EUR 11.50, down from EUR 12.60. The stock has outperformed peers in 2023 and currently trades at a premium to the sector, the analyst tells investors in a research note. At the same time, Goldman’s medium-term estimates moved down while consensus has moved up, putting the firm’s 2025 earnings forecast 7% below consensus. It cites Credit Agricole’s slower profit growth and premium valuation for the downgrade.
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