Credit Suisse Group’s (NYSE:CS) “Buy” Rating Reiterated at Morgan Stanley

Morgan Stanley restated their buy rating on shares of Credit Suisse Group (NYSE:CS) in a report issued on Tuesday, July 18th.

CS has been the subject of a number of other reports. Zacks Investment Research downgraded Credit Suisse Group from a buy rating to a strong sell rating in a report on Wednesday, April 19th. Deutsche Bank AG upgraded Credit Suisse Group from a hold rating to a buy rating in a report on Monday, June 19th. ValuEngine upgraded Credit Suisse Group from a sell rating to a hold rating in a report on Tuesday, June 27th. J P Morgan Chase & Co started coverage on Credit Suisse Group in a report on Monday, June 26th. They set an overweight rating for the company. Finally, BidaskClub upgraded Credit Suisse Group from a hold rating to a buy rating in a report on Saturday, July 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $17.00.

Credit Suisse Group (NYSE:CS) traded down 0.33% on Tuesday, hitting $14.91. The stock had a trading volume of 2,802,896 shares. The company’s market capitalization is $38.07 billion. Credit Suisse Group has a 12-month low of $11.85 and a 12-month high of $16.17. The company has a 50 day moving average of $15.09 and a 200 day moving average of $14.86.

Credit Suisse Group (NYSE:CS) last posted its quarterly earnings data on Friday, July 28th. The financial services provider reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.05. The company had revenue of $5.28 billion during the quarter. Credit Suisse Group had a negative net margin of 4.84% and a negative return on equity of 2.93%. On average, equities analysts expect that Credit Suisse Group will post $1.08 earnings per share for the current year.

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Several institutional investors have recently added to or reduced their stakes in the company. Brandes Investment Partners LP boosted its position in Credit Suisse Group by 8.3% in the second quarter. Brandes Investment Partners LP now owns 6,781,049 shares of the financial services provider’s stock worth $99,003,000 after buying an additional 519,038 shares during the period. Bank of America Corp DE boosted its position in Credit Suisse Group by 18.7% in the first quarter. Bank of America Corp DE now owns 6,210,880 shares of the financial services provider’s stock worth $92,170,000 after buying an additional 976,525 shares during the period. Morgan Stanley boosted its position in Credit Suisse Group by 265.7% in the first quarter. Morgan Stanley now owns 5,037,858 shares of the financial services provider’s stock worth $74,761,000 after buying an additional 3,660,158 shares during the period. Sei Investments Co. boosted its position in Credit Suisse Group by 131.0% in the second quarter. Sei Investments Co. now owns 2,745,869 shares of the financial services provider’s stock worth $40,089,000 after buying an additional 1,557,160 shares during the period. Finally, Northern Trust Corp boosted its position in Credit Suisse Group by 1.0% in the second quarter. Northern Trust Corp now owns 1,982,008 shares of the financial services provider’s stock worth $28,937,000 after buying an additional 18,880 shares during the period. 2.94% of the stock is currently owned by institutional investors.

About Credit Suisse Group

Credit Suisse Group AG (Credit Suisse) is a financial services company. The Company’s segments include Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, Investment Banking & Capital Markets, Strategic Resolution Unit and Corporate Center. It offers a range of private banking and wealth management solutions to its clients in its Swiss Universal Bank, International Wealth Management and Asia Pacific divisions.

Analyst Recommendations for Credit Suisse Group (NYSE:CS)

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