BofA Downgrades BBVA to Neutral on Turkey Macro Uncertainty; Price Objective, Estimates Revised
() -- BofA Global Research downgraded Banco Bilbao Vizcaya Argentaria (BBVA.MC, BVA.L) to neutral from buy, saying high rates are delaying normalization in Turkey. "BBVA has an enviable quality franchise with solid market shares in Mexico, Türkiye and Spain. Mexico is a large c.60% of BBVA's group profits, and while so