The support at 11.14 EUR, which is currently being tested, should allow Crédit Agricole shares to move back to the upside.
Strengths
● The share is getting closer to its long-term support in weekly data, at EUR 11.17, which offers good timing for buyers.
● Graphically speaking, the timing seems perfect for purchasing the stock close to the EUR 11.14 support.
● Margins returned by the company are among the highest on the stock exchange list. Its core activity clears big profits.
● Its low valuation, with P/E ratio at 8.08 and 7.78 for the ongoing fiscal year and 2019 respectively, makes the stock pretty attractive with regard to earnings multiples.
● The company is one of the best yield companies with high dividend expectations.
● Analysts remain confident with respect to the group's activity and, more often than not, have revised upwards their earnings per share estimates.
● Analysts have a positive opinion on this stock. Average consensus recommends overweighting or purchasing the stock.
● The average target price set by analysts covering the stock is above current prices and offers a tremendous appreciation potential.
Weaknesses
● The underlying tendency is negative on the weekly chart below the resistance at 12.99 EUR
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Crédit Agricole S.A. is one of the leading European banking groups and is the leading financial backer of the French economy. Net Banking Product breaks down by activity as follows:
- finance, investment and market banking (31.2%): standard and specialized bank financing activities (financing for acquisitions, projects, aeronautical and maritime assets, etc.), stock operations, consulting in mergers and acquisitions, investment capital, etc.;
- retail banking (28.5%): activities in France (Crédit Lyonnais) and abroad. Furthermore, the group is present in France via its 39 regional networks of branches (making it the biggest French banking network);
- asset management, insurance and private banking (27.6%);
- specialized financial services (12.7%): consumer loan, leasing and factoring (No. 1 in France).
At the end of 2024, Crédit Agricole S.A. managed EUR 868.1 billion in current deposits and EUR 548.1 billion in current credits.
NBP is distributed geographically as follows: France (47.4%), Italy (19.9%), European Union (14.7%), Europe (6.3%), North America (6.1%), Japan (1%), Asia and Oceania (3.2%), Africa and Middle East (1.2%), Central and South America (0.2%).
