BNP Paribas Price Target Raised As Shares Continue To Rally

BNP Paribas shares (BNP:FP) are currently holding strong above €80 support, with the company's latest earnings well received by markets. The positive momentum has prompted Barclays analyst Flora Bocahut to raise the firm's price target on BNP Paribas to €97 (from €93), reiterating an Overweight rating.

This implies a perceived upside of 19% from the latest close, and comes on the back of a strong bull trend in the stock.

BNP has demonstrated strength this year, climbing 35% since the turn of the year, and pushing shares within touching distance of highs.

Looking at the earnings themselves, the company reported net income of €3.26 billion, a 4% year-over-year decrease, but more importantly, surpassing analyst expectations. Revenue saw a 2.5% increase, reaching €12.6 billion.

A significant driver of this performance was a 27% surge in fixed income, currency, and commodity (FICC) trading revenues, capitalizing on market volatility stemming from U.S. tariffs.

The bank's performance also allowed for the declaration of an interim dividend of €2.59 per share, payable on September 30, reinforcing its commitment to shareholder returns. With a trailing dividend yield of 6.62%, BNP Paribas remains an attractive option for income-seekers.

“The strong performance in our fixed income business demonstrates the resilience of our diversified business model,” noted BNP Paribas . “We remain cautiously optimistic about the second half of the year, despite the challenging macroeconomic environment.”