CaixaBank: Oddo BHF raises target price

(CercleFinance.com) - Oddo BHF has reiterated its 'outperform' rating on CaixaBank, with a target price raised from E5.
8 to E5.9, following 2023 annual figures which confirm the favourable trend on both the operating and balance sheet fronts.

This robustness, coupled with an adequately diversified business model, confirms the stock as one of the broker's top picks in its sector in the current uncertain/challenging environment (macro, interest rates, etc.)", the broker says.

Oddo BHF remains positive on the Spanish bank's fundamentals, and raises its net income estimates for 2024-26 (+2% on average). The stock's valuation remains attractive, despite the recent more favourable trend, it adds.


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