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Investing.com - Barclays raised its price target on CaixaBank SA (BME:CABK) (OTC:CAIXY) to EUR8.60 from EUR8.00 while maintaining an Equalweight rating on the stock.
The price target increase follows CaixaBank’s second-quarter results reported in late July, which Barclays noted were modestly ahead of expectations with profit before tax 4% above the firm’s estimates.
Barclays cited stronger-than-expected loan growth of 4.8% year-over-year as a key driver for the revision, prompting the firm to raise its volume forecasts to approximately 5% annually through 2027.
The bank’s earlier-than-expected net interest income inflection, supported by volume growth, ALCO contribution, and Barclays’ updated higher-for-longer interest rate path assumptions also contributed to the more positive outlook.
Barclays raised its reported net profit forecasts for CaixaBank for fiscal years 2025-2027 by 1-2%, positioning its estimates approximately 3% above Bloomberg consensus on average.
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