Gazprombank Investment analysts noted that in 2023 Sber could generate net profit of about 1.5 trillion rubles, which is equivalent to more than 66 rubles per share.
“Sber continues to surprise investors, so we should not give up on higher estimates,” the report said.
Analysts also noted that Sber shares remain attractive for investment at the current price and continue to occupy one of the key shares in the portfolio of Gazprombank Investments for a long-term investor.
“At the last Investor Day, Sberbank presented a new strategy for the period until 2026, which involves creating a people-oriented business model that deepens relationships with customers and is based on the development of artificial intelligence. We think the presented strategy is quite ambitious, slightly exceeding our expectations. “We still find Sberbank shares attractive,” said Olga Naydenova, senior analyst at investment bank Sinara.
Also at the Investor Day, Sberbank announced forecasts for the main financial indicators of the next three years and the main provisions of its dividend policy.
“Due to the annual increase in profits (about 9% per year according to our estimates), the bank will be able to increase dividend payments annually and achieve a dividend yield of over 12.9% annually. At the same time, in our opinion, a high level of capital adequacy will allow the bank not to reduce the amount of dividends per share in case of a decrease in profits, but to distribute more than 50% of the profits among shareholders. “Alfa-Bank analysts stated.
Moreover, after the announcement of Sber’s new strategy, Alfa-Bank increased the estimated price of Sberbank shares to 365 rubles per share.