RBC raises Santander to 3.95 euros after the results.
Experts from RBC have increased the evaluation of Banco Santander To 3.95 euros per share from above €3.60 after analyzing the results of the entity in the fourth trimester and his forecasts For 2023.
“We are raising the target price to 3.95 euros and reiterate our “hold” advice. after the 2022 results“, said the experts in a report published on Monday.
Along the same lines, experts from Berenberg reiterated their “hold” advice and raised their rating to “hold”. €3.80 per share of €3.10.
Santander saw strong gains last Thursday, after posting a figures that exceed forecasts which have been very well received by the market. The title is one of the most bullish of the Ibex 35 since the beginning of the year, since it accumulates a by 22%. since January 1.
Experts from Swiss credit also raised Santander’s valuation following its results, in this case to €4.50 from €4.40. They also reiterated their “overweight” advice.
“We are raising our net profit estimates by around 5% for the period 2023-2025. We look forward to the communication of the new strategy on February 28 (on the occasion of the Investor Day),” the analysts explain.
Santander announced last Thursday net profit in 2022 of 9,605 million, an increase of 18%.2,289 million (+15%) in the fourth quarter. The website annual net interest income increased to 38,619 million euros (+16%)..
The bank said that “the effect of rising rates on net interest income…”. has not yet been taken into account entirely in Spain, Portugal and the United States“.