Morgan Stanley analyst Alvaro Serrano downgraded BBVA to Equal Weight from Overweight with a EUR 9.20 price target. The analyst sees better risk/reward profiles elsewhere in the European bank solace. The firm’s bottom up benchmarking of interest rate hedging strategies points to resilient net interest income in Benelux and France, with 2024 and 2025 consensus “starting to look rich in Ireland/periphery.”
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Read More on BBVA:
- BBVA price target raised to EUR 9.25 from EUR 8.75 at RBC Capital
- BBVA price target raised to EUR 8.90 from EUR 8.80 at JPMorgan
- BBVA price target raised to EUR 9.85 from EUR 9.20 at Deutsche Bank
- BBVA price target raised to EUR 9.20 from EUR 8.90 at Barclays
- BBVA price target raised to EUR 7.80 from EUR 7.20 at Berenberg