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Kepler Capital Keeps a Buy Rating on SpareBank 1 SMN (SRMGF)

In a report issued on January 21, Anna Maria Benassi from Kepler Capital maintained a Buy rating on SpareBank 1 SMN (SRMGFResearch Report), with a price target of NOK140.00. The company’s shares closed last Tuesday at $12.98, equals to its 52-week high of $12.98.

According to TipRanks.com, Benassi is a top 100 analyst with an average return of 20.6% and a 79.4% success rate. Benassi covers the Financial sector, focusing on stocks such as SpareBank 1 Nord-Norge, Erste Group Bank AG, and Deutsche Bank AG.

Currently, the analyst consensus on SpareBank 1 SMN is a Moderate Buy with an average price target of $15.77.

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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.

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