With a gain of almost 3%, Euronext was one of the biggest risers in the SBF 120 index on the Paris Bourse on Monday, with the stock benefiting from favorable comments from BofA analysts.

In a sector note, the research firm points out that the pan-European stock exchange operator's shares significantly underperformed the market last year, a devaluation it considers an anomaly in view of the group's "solid financial year".

The analyst - who has a buy recommendation on the stock - points out that the weakness in the share price coincided with the completion of the acquisition of Borsa Italiana, an operation which was seen as justified, accretive to earnings and "particularly well-felt".

From an operational point of view, BofA nevertheless sees potential for improvement in both its trading and clearing activities over the next 18 months, despite the stock's current low valuation.

Copyright (c) 2023 CercleFinance.com. All rights reserved.