BBVA: UBS raises target price
(CercleFinance.com) - UBS maintains its buy rating on the BBVA stock, increasing its target price for it to 8.
4 euros (from 7.85 euros) after the group announced net profit of 6.42 billion euros for 2022 (+38% at current exchange rates, +39% in constant euros).
Net interest income rose to 19.15 billion euros, up 35.8% y-o-y at constant exchange rates. Meanwhile, gross income rose to 24.89 billion euros, up 22.9% y-o-y.
ROE reached 14.6%, while ROTE was 15.3% at end-December.
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