Banco Sabadell : Q2 2022 pretty reassuring and guidance upgraded
>Neutral rating (vs Underperform) – target price raised to € 1.0 (vs € 0.9) - We have upgraded our rating to Neutral (vs Underperform), mainly on valuation grounds – the trend in Q2 2022 again proved fairly reassuring (operationally, asset quality, capital) and confirmed the recovery momentum in connection with the transformation plan (visible for TSB), with a positive impact from higher rates and the absence of any visible fallout at this stage from the war in Ukrain...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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