Santander : Pre-Christmas update: reassuring 2022 guidance under the tree
>Outperform recommendation reiterated – Target price lifted to € 4.0 (vs € 3.9) - Following a pre-Christmas analysts’ meeting organised with the CFO, our positive stance is confirmed regarding Santander’s operating outlook and solvency in the short to medium term. The group provided a notable degree of guidance (top line, costs, cost of risk, etc.) for 2022 and on trends in solvency, which was reassuring. We upgrade our net income forecasts by 3% on average for 2021-2...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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