(News Bulletin 247) – Oddo BHF reiterates its ‘outperformance’ opinion on Santander with a price target raised from 4.7 to 4.8 euros, raising its net profit expectations by around 3% on average over the 2023/ 2025, the day after the Spanish bank’s quarterly.
“The evolution of the group’s operational performance remains generally solid and reassuring on the main part of the financial objectives set for 2023 and within the framework of the recent Investor Day despite a challenging/uncertain macroeconomic context”, judges the analyst.
According to him, the bank continues to reassure on its capital trajectory and its liquidity/funding situation, and its title continues to present an interesting rerating potential within its sector coverage while the fundamentals are solid.
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