(IFN) Kaupthings 4Q net profit shows "very strong numbers," says Kim Bergoe, an analyst at Fox-Pitt, Kelton.
Numbers are "strong in all lines," on good trading conditions, says Bergoe, adding this doesnt necessarily mean raised outlook estimates, but notes Kaupthing also shows strong net interest income and commission income.
Costs are a bit higher than expected, says Bergoe, but adds this is natural as the bank beat estimates on the income side. Says the strategy of being an investment bank works well, but makes estimates harder.
Rates at outperform, with a price target of SEK97.
source: Dow Jones Newswires
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