Banco Sabadell : A Q3 2022 of good quality & 2022 guidance upgraded again
>Neutral opinion reiterated – target price raised to € 1.05 (vs € 1.00) - We reiterate our Neutral opinion on the stock, mainly for valuation reasons. Q3 2022 was another fairly reassuring quarter (operating results, asset quality and capital) and confirmed the recovery momentum associated with the transformation plan (particularly visible for TSB) and the positive impact of rising interest rates, as well as the lack of visible effects from the Ukrainian crisis to dat...Banco de Sabadell is a bank holding company. Through its subsidiaries, Co. provides a range of banking and financial services in Spain and internationally. Co.'s activities include investment banking, private banking, portfolio management, mortgage loans, commercial loans and other financial products and services, deposits and international banking operations. Co. is also engaged in life insurance underwriting and brokerage. Additionally, Co. is engaged in capital property and development, as well as investing in environmental projects. As of Dec 31 2014, Co. had total assets of Euro163,345,673,000 and total customer deposits of Euro98,208,370,000.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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