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Investing.com - Goldman Sachs initiated coverage on Bankinter, S.A. (BME:BKT) (OTC:BKIMF) with a Neutral rating and a price target of EUR13.34 on Thursday.
The investment bank’s research team indicated that Bankinter’s current valuation appears fair relative to both European banking peers and the company’s own historical trading patterns.
Goldman Sachs noted that Bankinter demonstrates healthy loan growth, good cost management, and above-average European return on tangible equity (RoTE).
Despite these positive factors, the bank’s analysts identified limited potential for consensus upgrades, below-sector-average yield, and relatively less excess capital compared to peers.
Goldman Sachs concluded that these limitations provide few catalysts for a potential re-rating of Bankinter’s stock in the near term, supporting their Neutral stance on the Spanish banking institution.
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