Bankinter S.A. - Bolsas y Mercados Espanoles (BME) Downgrade to Hold from Buy

Report

Bankinter S.A.

Juan Moreno

EUR 10.00 For Business Accounts Only

Downgrade to Hold from Buy

The estimates reduction leads us to a DCF valuation of €2,434mn or €29.11/share. It is 15.1% lower than the previous €34.3/share and implies a 3.4% upside potential. We recommend to Hold (from Buy).

05/10/2018 10 EN

Underlying

Bolsas y Mercados Espanoles

Bolsas y Mercados Espanoles Sociedad Holding de Mercados y Sistemas Financieros (BME) is a company that integrates securities markets and financial systems in Spain. Co. comprises the Madrid, Barcelona, Bilbao and Valencia stock exchanges, MF Mercados Financieros, Iberclear and BME Consulting, as well as several other subsidiaries. Co.'s services include public offerings and trading facilities for equities, derivatives, warrants and fixed income securities. Co. also provides clearing and settlement services, through Iberclear. In addition, Co. is engaged in the distribution of information services and consulting and technology services.

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ES0115056139 Spain

Provider

Bankinter S.A.

Bankinter S.A. is a Spanish brokerage firm established in 1989. The company's line of business includes the provision of market research and trading services for Equity and Fixed Income products.

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Analysts

Juan Moreno

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