Jyske Jumps Most in 9 Weeks as Danske Says Buy: Copenhagen MoverGelu Sulugiuc
Jyske Bank A/S 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.