Santander: shares weaken on UBS downgrade
(CercleFinance.com) - Shares in Santander fall 1.
8% as one of the biggest decliners on Madrid's main index, IBEX 35, after UBS downgraded the stock this morning.
In a note to clients, the brokerage said it has cut its view on Santander to "neutral" from "buy," with a new target price of 4.30 euros, from 5.05 euros previously.
Its analysts said prospects of a lower yield curve in Europe have lead them to adopt a more bearish view on Spanish banks.
The shares of Banco Santander are currently down 1.8% at 4.05 euros.
Copyright (c) 2019 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.
8% as one of the biggest decliners on Madrid's main index, IBEX 35, after UBS downgraded the stock this morning.
In a note to clients, the brokerage said it has cut its view on Santander to "neutral" from "buy," with a new target price of 4.30 euros, from 5.05 euros previously.
Its analysts said prospects of a lower yield curve in Europe have lead them to adopt a more bearish view on Spanish banks.
The shares of Banco Santander are currently down 1.8% at 4.05 euros.
Copyright (c) 2019 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.