BBVA: UBS adjusts target price

(CercleFinance.com) - UBS maintains its "neutral" rating on BBVA share, having nudged up its target price for them from 4.
85 euros to 5.1 euros, after the broker increased its 2022 EPS estimate for the Spanish banking institution by around 6%.

"Domestic restructuring broadly aligned with expectations and already reflected in valuation," the broker says, although it sees "Capital deployment of improved CoR guidance potential catalysts".

The market seems cautious - in a pretty flat market in Madrid, BBVA shares are currently down almost 1.5% at about 5.2 euros.



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