Deutsche Bank on Monday upgraded its recommendation on Amundi to Buy, making it its preferred stock among Europe's leading diversified financial services groups.

In its study, the analyst highlights the French asset manager's solid fundamentals, particularly in terms of volume growth and cost control.

In addition to these factors, Amundi also boasts a flattering track record in terms of external growth, it points out in its note.

Deutsche Bank also praises the Group's efforts to diversify its sources of revenue, notably through the launch of Amundi Technology.

The intermediary also expects revenues from its joint ventures to increase, and in particular the impact of synergies from the merger with Lyxor to grow.

Lastly, the professional highlights an 'attractive' valuation despite the share's strong growth since the beginning of the year, a factor which, in his opinion, is accompanied by an equally 'attractive' dividend yield.

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