Bankia: UBS nudges up target price.
(CercleFinance.com) - UBS remains "neutral" towards Spain's Bankia, with a new target price of 3.
9 euros per share, compared to 3.8 euros previously, as media report that a merger with Banco Mar Nostrum (BMN) should take place in a few weeks.
While the broker's views on Bankia are broadly unchanged, UBS says BMN appears like a sensible way to leverage the balance sheet and boost returns, while not implying a sizeable strategic change.
"At first sight, we would not expect the proposed transaction to have a large effect on Bankia's share price," UBS writes in a report.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
9 euros per share, compared to 3.8 euros previously, as media report that a merger with Banco Mar Nostrum (BMN) should take place in a few weeks.
While the broker's views on Bankia are broadly unchanged, UBS says BMN appears like a sensible way to leverage the balance sheet and boost returns, while not implying a sizeable strategic change.
"At first sight, we would not expect the proposed transaction to have a large effect on Bankia's share price," UBS writes in a report.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.