Santander : Q3 2023 solid overall & in line with short- and medium-term guidance
>Outperform rating reiterated – target price of € 4.8 unchanged - Santander’s Q3/9M 2023 results publication underpins our Outperform recommendation, prompting a slight adjustment to our net profit estimates (-1% on average over the period 2023-2025e, mainly due to a more cautious scenario bias on the trend in interest income) - our target price remains unchanged at € 4.8. Overall, the group's operating performances remain solid, with confirmation of the main financia...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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