Banco Comercial stock falls 2.10 percent as targets rise above EUR 1.35 forint? Should not have ?

Published on 10/07/2026 at 13:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Banco Comercial stock was trading at EUR 1.16 on October 7, 2026, after Oddo BHF lifted its target to EUR 1.35. H1 profit rose 12.7 percent year over year.

Banco Comercial, PTBCP0AM0015, Illustration mit AI erstellt.

Banco Comercial stock was trading at EUR 1.16 on Euronext Lisbon on October 7, 2026, down 2.10 percent from the previous close. The latest analyst revisions put the bank's valuation and its H1 profitability in the same frame.

Analysts lift price targets

According to Jornal Economico on October 1, 2026, Oddo BHF raised its target from EUR 1.20 to EUR 1.35 on September 30 while keeping an Outperform rating. Goldman Sachs raised its target from EUR 1.14 to EUR 1.27 on September 29 and retained a Neutral rating, while Autonomous Research moved from EUR 1.16 to EUR 1.20 with a Neutral recommendation.

The sequence matters because the highest new target is EUR 1.35, while the share price was EUR 1.16 during trading on October 7. That target lies 16.4 percent above the price, although the recommendations remain divided between positive and neutral views.

H1 profit gives the targets context

Morningstar DBRS reported on September 21, 2026, that Banco Comercial Português increased H1 2026 net profit by 12.7 percent year over year to EUR 566.1 million. Net interest income rose 3.4 percent, while net fees and commissions increased 5.8 percent in the same period, according to Morningstar DBRS.

The credit-rating agency also cited total assets of EUR 114.8 billion at the end of June 2026 and a return on equity of 15.0 percent, up from 14.5 percent a year earlier. The counterweight is visible in costs: operating expenses increased 5.4 percent and the net cost of risk rose to 36 basis points from 33 basis points.

Stock stays below yearly high

Banco Comercial Português had a market capitalization of EUR 17.2 billion and trading volume of 15,622,562 shares on October 7, 2026. Its 52-week range was EUR 0.74 to EUR 1.24, leaving the intraday price EUR 0.08 below the yearly high.

The stock's market position therefore combines a 58.5 percent one-year gain with a fresh 2.10 percent daily decline. For investors, the key tension is clear: higher targets rely on sustained profitability, while the H1 figures also show rising operating and risk costs.