REAL-TIME GLOBAL RESEARCH
Risk Reward Update
Research evidence excerpt
Not for redistribution without written consent of Morgan Stanley
M
Update
August 7, 2026 03:35 PM GMT
Morgan Stanley Europe S.E., Madrid Branch+
Banco Comercial Portugues SA | Europe
Alvaro Serrano
Equity Analyst
Risk Reward Update
Morgan Stanley & Co. International plc+
Gulnara Saitkulova
What’s Changed
Equity Analyst
Banco Comercial Portugues SA (BCP.LS)
From
To
Price Target
€0.96
€1.02
Bull Case
€1.10
€1.17
Banco Comercial Portugues SA (BCP.LS, BCP PL)
Base Case
€0.96
€1.02
Banks | Portugal
Bear Case
€0.48
€0.51
Updated Components
EPS
Investment Thesis
Bull Base Bear Scenarios
Stock Rating
Industry View
Price target
Shr price, close (Aug 6, 2026)
52-Week Range
Fiscal Year Ending
Risk Reward for Banco Comercial Portugues SA (BCP.LS) has
been updated
Reason for change
EPS (€)**
Prior EPS (€)**
Equal-weight
Attractive
€1.02
€1.10
€1.11-0.70
12/25 12/26e 12/27e 12/28e
0.07
0.08
0.09
0.10
Unless otherwise noted, all metrics are based on Morgan Stanley ModelWare
framework
** = Based on consensus methodology
e = Morgan Stanley Research estimates
Following upgraded guidance and continued resilient trends in Portugal, we raise
our NII outlook by 3%, driving a 6-7% increase in our outer-year net income
estimates. We also raise our price target to EUR 1.02 from EUR 0.96. We remain
Equal-weight.
Morgan Stanley does and seeks to do business with
companies covered in Morgan Stanley Research. As a result,
investors should be aware that the firm may have a conflict of
interest that could affect the objectivity of Morgan Stanley
Research. Investors should consider Morgan Stanley
Research as only a single factor in making their investment
decision.
The English excerpt is extracted automatically from the cited source page and may contain layout or recognition errors. It is never batch translated.
Open report viewer