Credit Suisse supports Banco Santander and CaixaBank touches 15% of potential
The latest report from the expert analysts of Credit Suisse on the Santander Bank raises the recommendation from neutral to overweight and raises its price target by 22.22% to 3.30 euros per share, from the previous 2.70 euros due to its growth history and its future growth expectations, among others.
In this way, taking into account the current price of the entity’s shares of 2.94 euros, Banco Santander obtains a potential upside of 12.24%.
In the aforementioned report, Credit Suisse considers that Banco Santander will generate total accumulated returns of approximately 40% until 2023, compared to 30% -33% of its counterparts in Southern Europe, and highlights that the bank’s returns have shown the lowest volatility among its peers.
In addition, compared to the losses of 8,771 million registered last year, Credit Suisse estimates that Banco Santander will reach a net profit of 5,390 million euros in 2021, 8,556 million in 2022 and 9,812 million in 2023.
On the other hand, the consensus of Reuters analysts, set the target price for Santander bank at 3.07 euros per share, which means a potential rise of 4.32%, well below that granted by Credit Suisse. Of the 26 analyst houses that follow the stock price, 16 recommend buying; 6, keep and 4, sell.
Santander Bank recommendation
For its part, after Barclays’ review of its stock market recommendations from neutral to overweight, Caixabank obtains a potential of 14.94% after the analysis firm has raised the target price of the entity to 3 euros from the previous 2.7 euros.
The consensus of Reuters analysts, on the other hand, set the target price for CaixaBank at 2.61 euros per share. This represents a potential downgrade of just 0.04%. Among the 24 analysis firms that follow the stock, 14 advise to buy; 8, keep and 2, sell.
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