Tiger Brokers

BUZZ-Alphavalue upgrades Santander to 'reduce' on improved long-term prospects

Reuters
Feb 13
BUZZ-Alphavalue upgrades Santander to 'reduce' on improved long-term prospects

** Alphavalue lifts Spain's Banco Santander SAN.MC to "reduce" from "sell"; upgrades long-term forecasts

** Says move prompted by Santander's fourth-quarter results and announced acquisition of Webster Financial WBS.N

** Adds that its new forecasts are still "slightly below the group's implied net profit objectives for 2027 and above all 2028"

** Maintains PT at 10.9 euros ($13), implying an 8% upside to current share price

** 17 of 25 analysts rate the stock "strong buy" or "buy", 7 "hold" and 1 "strong sell" - LSEG data

($1 = 0.8418 euros)

(Reporting by Javi West Larrañaga)

((javier.west@thomsonreuters.com; +34 918 35 61 12))

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