The recent downturn has taken Crédit Agricole shares close to a medium term support level around 13.84 EUR. The timing for a long trade in the stock appears good. Investors have an opportunity to buy the stock and target the € 15.5.
The close medium term support offers good timing for purchasing the stock.
The group's activity appears highly profitable thanks to its outperforming net margins.
Its low valuation, with P/E ratio at 10.71 and 10.57 for the ongoing fiscal year and 2018 respectively, makes the stock pretty attractive with regard to earnings multiples.
The company is one of the best yield companies with high dividend expectations.
For the last twelve months, analysts have been gradually revising upwards their EPS forecast for the upcoming fiscal year.
The stock is in a well-established, long-term rising trend above the technical support level at 13.18 EUR
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