Kepler Capital Upgrades SpareBank 1 SMN (SRMGF) to Buy

Kepler Capital analyst Benoit Petrarque upgraded SpareBank 1 SMN (SRMGFResearch Report) to Buy on April 8 and set a price target of NOK113.00. The company’s shares closed last Wednesday at $5.39.

According to TipRanks.com, Petrarque is a 5-star analyst with an average return of 34.0% and a 91.1% success rate. Petrarque covers the Financial sector, focusing on stocks such as SpareBank 1 Nord-Norge, Helgeland Sparebank, and Erste Group Bank AG.

Currently, the analyst consensus on SpareBank 1 SMN is a Moderate Buy with an average price target of $13.30.

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SpareBank 1 SMN is a regional bank offering retail and corporate banking services and principally operating in Norway. The bank is among the owners of the SpareBank 1 Alliance. A key element of the bank’s is to maintain a variety of office solutions in municipal and administrative centers where the bank’s customers are drawn. The bank is also making a push into digital banking channels via the Internet and mobile banking. The bank’s credit is heavily exposed to the real estate, construction, sea farming, agriculture, fisheries, shipbuilding, offshore, and retail industries, as well as the public and energy sectors. The bank’s income is split nearly evenly between net interest income and net fees and commission income.