Santander: UBS raises its target price
(CercleFinance.com) - 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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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.
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.
Copyright (c) 2021 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.