Up 80%, Credit Suisse Stock Has Limited Upside

SourceForbes
SectorFinancial Markets
CountryMiddle east

Credit Suisse bank sign is seen on September 19, 2020 in Warsaw, Poland. (Photo Illustration by ... [+] Aleksander Kalka/NurPhoto via Getty Images) NurPhoto via Getty Images We believe that Credit Suisse stock (NYSE: CS) has a limited upside potential of 14% in the near term. CS trades at $12 currently and it has lost 10% in value year-to-date.

It traded at a pre-Covid high of $14 in February and is 12% below that level now. Also, CS stock has gained 79% from the lows of $7 seen in March 2020, after the multi-billion dollar stimulus package announced by the U.S. government which has helped the stock market recover to a large extent. The stock is leading the broader markets (S&P 500 is up about 60%), as investors are positive about the growth in Credit Suisse’s CS Investment Bank segment which includes both Investment Banking and Sales & Trading businesses – the bank has reported a 5% y-o-y growth in the cumulative revenues for the first three quarters. That said, CS third-quarter results missed the consensus estimates. It mainly suffered due to a 10% drop in wealth ...read more...