Santander: UBS still a buyer, adjusts TP
(CercleFinance.com) - UBS confirms its 'buy' recommendation on Santander shares, nudging up its TP from E6.
2 to E6.3, representing 40% upside potential for the stock, the day after the Spanish bank's quarterly publication.
The broker considers the stock's reaction to this publication to be 'overdone'. A relatively defensive earnings profile and cheap valuation should provide support, with outperformance contingent on targets being met, it says.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
2 to E6.3, representing 40% upside potential for the stock, the day after the Spanish bank's quarterly publication.
The broker considers the stock's reaction to this publication to be 'overdone'. A relatively defensive earnings profile and cheap valuation should provide support, with outperformance contingent on targets being met, it says.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.