Jyske Jumps Most in 9 Weeks as Danske Says Buy: Copenhagen Mover

Jyske Bank A/S (JYSK) gained the most in nine weeks in Copenhagen trading after analysts at Danske Bank A/S recommended clients buy stock as the loan book of Denmark’s second largest lender improves.

Shares in Denmark’s second-largest listed bank rose as much as 4.3 percent, the most since May 1, and traded up 3.7 percent at 230.30 kroner at 11:49 a.m. local time. Trading volume was 67 percent of the three-month daily average.

Jyske probably will show continued improvement in its assets when the Silkeborg, Denmark-based lender reports second-quarter earnings on Aug. 28, Danske said today in a note to clients. Danske raised its recommendation on Jyske to buy from hold and increased its 12-month price target to 250 kroner from 230 kroner.

“We believe Jyske is up for a positive second-quarter report with continued low loan losses and a repeated positive message around development in the asset quality,” Danske said.

To contact the reporter on this story: Gelu Sulugiuc in Copenhagen at gsulugiuc@bloomberg.net

To contact the editor responsible for this story: James Ludden at jludden@bloomberg.net

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