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SCGLF - Credit Agricole - Don't Let A Dull Business Plan Put You Off
Societe Generle Ord
Credit Agricole's new Medium Term Plan - try not to yawn
Credit Agricole (OTCPK: CRARF, CRARY) presented a new 3-year business plan to the market on 6 June. It was greeted with widespread indifference by investors and the stock price hardly budged.
This is not a surprise since the earnings promises contained in it align pretty much precisely with where Street estimates are already at.
In brief summary, the main points are:
A target of at least €5bn net profit by 2022 (Street estimates are at €4.9bn). This would be ~3% CAGR from