Santander: UBS still a buyer ahead of Q1 results
(CercleFinance.com) - UBS reiterates its buy rating on the Santander stock, along with its target price of 4.
4 euros ahead of the bank's Q1 2022 numbers.
"We remain positive on SAN ahead of 1Q. Earnings defensiveness is still valued conservatively in our view," UBS said.
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The analyst said in the previous analysis that "the stock remains undervalued, but the lack of more visible capital growth remains an obstacle for investors".
Note that Santander reported attributable earnings of 8.12 billion euros for 2021, pretty much a mirror image of the loss of 8.77 billion euros in 2020, which due to a non-cash adjustment to the valuation of goodwill and deferred tax assets.
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