Opportunities this week:
- We highlight a number of reasons why Bank of Ireland’s net interest income is expected to have a muted correlation with falling ECB rates, and why substantial return of capital is expected. (Buy PT: €11.70).
- We increase our CRH price target and discuss why we view the upcoming Q3 earnings season as another opportunity for CRH to illustrate the strength of its integrated business model, which should result in continued outperformance relative to its peer group. (Buy, PT: $106)
- We are downgrading our rating on Deere & Co due to ongoing demand issues leading to increased layoffs and dealer inventories, as well as an FTC investigation into its repair policies. (Neutral PT: $410)