(News Bulletin 247) – Jefferies changes its recommendation from Hold to Buy on Caixa Bank stock and raises its price target from 4.5E to 4.6E.
‘The bank offers a number of attractions, including a diversified business franchise; the defensive composition of loans; and solid buffers of capital ”, estimates the analyst.
The recent downturn leaves an ‘attractive valuation with well-anchored NII expectations’ and Caixa Bank benefits from ‘alternative P&L leverage to drive profitability’, the broker continues. ‘We are increasing earnings estimates by around 13% in 2025.’
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