Santander : Reassuring Q4 2023 results & 2024 guidance …still some re-rating potential
>Outperform rating confirmed – target price raised to € 5.3 (vs € 4.8) - Santander’s Q4/full-year 2023 results underpin our Outperform rating and lead us to increase our net profit estimates (+8% on average over the period 2024-2026e), due to a slightly more favourable stance on underlying operating momentum (top line, costs, cost of risk). As a result our target price increases to € 5.3 (vs € 4.8). The group’s operating performances remain broadly robust with confirm...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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