In research notes released last month, Renaissance Capital and Citigroup recommended a “buy”’ on KCB share
Renaissance Capital said the bank would benefit from the implementation of its new management structure, new executive directors and regional strategy, forecasting a target price of Sh24.6.
“We initiate on KCB with a “buy” because of its regional diversification and valuation. In our estimates, KCB is trading at a significant discount to our estimate of its fair value,” said Citigroup in their research note.