Fubotv earnings beat by $0.10, revenue topped estimates
Investing.com -- Deutsche Bank (ETR:DBKGn) downgraded Bankinter (BME:BKT) to “hold” from “buy,” despite raising its target price to €12.75 from €11.50, marking the only rating cut among Iberian banks after the latest round of second-quarter earnings reviews.
Other banks under DB’s coverage retained their ratings while receiving higher target prices.
BBVA (BME:BBVA) kept a “buy” rating, with its target lifted from €14.10 to €15.90. Millennium BCP maintained “buy,” with the target moving from €0.73 to €0.78.
CaixaBank stayed at “sell,” with the target raised from €6.80 to €7.75. Banco Santander (BME:SAN) remained at “buy,”with its target up from €7.50 to €8.20. Unicaja Banco held its “hold,” rating, with the target increasing from €1.80 to €2.25.
DB’s Alfredo Alonso said interest in Iberian banks had been largely subdued until the second quarter, when stronger-than-expected results boosted sentiment.
Earnings growth was driven by a faster rebound in core revenues, improving the outlook and drawing renewed attention to the Spanish economy.
Alonso noted that all banks except Santander outperformed the SX7P index on results day, underscoring confidence in upgraded guidance and the sector’s ability to handle potential headwinds, though he cautioned that current valuations allow less margin for error.