BME: RBC upgrades to 'sector perform'.

(CercleFinance.com) - RBC Capital Markets has upgraded its rating on Bolsas y Mercados Espanoles (BME) from "underperform" to "sector perform", citing the share's underperformance year to date, while maintaining a target price of 30 euros for the stock.


The broker cites stabilising volumes, a high dividend yield, an attractive valuation, and an EBITDA margin that is the highest in the sector.

While RBC acknowledges that the political situation has changed significantly, given the independence vote in Catalonia, which could disrupt volumes in Spain, it points out that equity volumes in Spain have increased significantly year-on-year since the referendum.

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