BofA Tweaks CaixaBank Price Objective, Estimates Ahead of Q2 Earnings Report

BofA Global Research adjusted its price objective and earnings estimates for CaixaBank (CABK.MC) ahead of the Spanish lender's second-quarter results on July 29. CaixaBank's reported net profit for the quarter is projected to grow 8% year over year to 1.6 billion euros, while total revenue is forecast to rise 5% to 4.23 billion euros. The figures compare with the consensus estimates of 1.56 billion euros and 4.21 billion euros, respectively, according to a Wednesday earnings preview note for Spanish banks. "Caixabank still offers the best combination of NII gearing, non-interest income growth and use of capital among the domestics. We expect no buyback this quarter on strong volumes and improved guidance," the research firm said, raising the price objective for the buy-rated stock to 14.20 euros from 13 euros. Net attributable profit, net interest income and total revenue forecasts for the bank for 2027 and 2028 were also increased. Estimates for all three metrics were left unchanged for 2026. "While the bank is still sensitive to rates, the structural hedge offers gearing to the long end of the curve while its product offering is overlooked by the market. We believe.