BBVA price target raised, added to Franchise Picks at Jefferies
Jefferies analyst Miruna Chirea raised the firm's price target on BBVA to EUR 27 from EUR 21 and keeps a Buy rating on the shares, which were also added to the firm's Franchise Picks list. Shares have lagged year-to-date amid broader risk-off sentiment, but fundamentals remain strong for "Europe's highest RoTE bank" and the firm sees mid-single digit upside to consensus earnings with Turkey risks largely priced in, the analyst tells investors.
Jefferies analyst Miruna Chirea raised the firm's price target on BBVA to EUR 27 from EUR 21 and keeps a Buy rating on the shares, which were also added to the firm's Franchise Picks list.
Shares have lagged year-to-date amid broader risk-off sentiment, but fundamentals remain strong for "Europe's highest RoTE bank" and the firm sees mid-single digit upside to consensus earnings with Turkey risks largely priced in, the analyst tells investors.