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Santander: UBS raises its target price

( - UBS reinstates its "buy" rating on Santander, raising its target price for them from 4 euros to 4.
15 euros, with its new target price suggesting upside potential 35% for the Spanish banking institution's shares.

"SAN's solvency/capital return prospects remain below peers, but today's buyback announcement highlights how the stock's earnings power remains harshly valued," the broker said.

The share is currently up about 1.5% in Madrid.

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