Santander : A solid end to the year and an apparently reassuring message on capital
>Outperform recommendation maintained – target price lifted to € 4.2 (vs € 4.0) - Following the solid Q4 2021 earnings release, our positive stance is supported by the operating outlook for Santander in the short to medium term. We have revised up our net income forecasts by 5% on average for 2022-2023e, with notably a more favourable stance on revenue growth (+2% revision for 2022-2023e) whereas we have left our estimates for loan loss provisions more or less unchang...Banco Santander is a holding company, providing a range of financial products. Co.'s products and services include: retail banking business that covers all customer banking businesses; wholesale banking business; as well as asset management and insurance business. Co.'s principal operations are in Spain, the U.K., Portugal, Germany, Italy and Latin America. As of Dec 31 2014, Co.'s total assets amounted to Euro1,266,296,000,000 and total customer deposits amounted to Euro647,627,000,000.
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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