Analysts upgrade Cooperative Bank’s stock rating

The ongoing strategic review of Co-operative Bank of Kenya by consulting firm McKinsey has given the bank a high rating and a revised growth forecast from a cross section of investment banks and analysts.

Renaissance Capital says it has revised forecasts and upgraded the lender’s rating. “We are urging investors to buy rather than hold Co-op shares whose prices are expected to rise by 19 per cent to Sh25 per share from the current levels of Sh21 per share,” said Adesoji Solanke, an analyst at Renaissance Capital.