Santander: Oddo BHF raises target price

(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Santander shares, raising its target price for them from E4.
8 to E5.3, after increasing its earnings estimates (+8% on average over 2024-26) for the Spanish bank.

The broker considers the evolution of operating performance to be solid overall, and notes that the group continues to provide reassurance regarding its capital trajectory, and ultimately its ability to support its policy of return to shareholders.

It continues to identify attractive rerating potential on the stock as the strategic plan progresses (upside potential of around 40% vs. less than 30% for the sector), based on solid fundamentals, the broker adds.


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