Analyst tips Co-op and KCB to soar above NSE performance

Coop Bank CEO Gideon Muriuki

Investment banking firm Renaissance Capital is tipping stocks of three commercial banks to rise in the long term, offering those who buy them now a profit.

In their update research on equities, the firm sees stocks of KCB, Co-operative Bank and Equity Bank defying the current uncertainties on the market to rebound. "We increase our TP (target price) for Equity to Sh33.90 (from Sh31.50), for KCB to Sh37.6 (from Sh33.90) and for Co-op to Sh16.0 (from Sh15). We maintain our outperform ratings on KCB and Co-op Bank," says Renaissance report that gives Equity a market perform rating.