Santander: Oddo BHF still a buyer, adjusts TP

(CercleFinance.com) - Oddo BHF has confirmed its 'outperform' rating on Santander shares, raising its target price for them from E5.
4 to E5.5, boosted by a quarterly publication when it raised its net income estimates (+2% on average over 2024-26).

The group's operating performance has seen solid growth, with validation of the main financial targets set for 2024 and for the horizon of the current strategy plan, the analyst notes.

Adding that the Spanish bank continues to reassure on its capital trajectory, and ultimately its ability to support the gradual improvement of its shareholder return policy, Oddo BHF still sees an interesting rerating potential for the stock.


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