Banco Sabadell : Q3 2021 confirms operating recovery … watch this space!
>Neutral rating maintained - target price raised to € 0.70 from € 0.67 - We maintain our Neutral rating on Sabadell – while Q3 2021 is encouraging and confirms the real improvement in operating momentum from which the group should benefit in the short to medium term (notably in the context of its new strategic plan), we do not think it is enough at this stage to sustain a continued re-rating (+90% YTD vs SX7E +41%). At 0.3x 2020 book value for a 2022 RoE forecast at b...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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