Bankinter : A more balanced valuation after the recent sell-off...Neutral vs Underperfom
>Neutral rating (vs Underperform) – target price raised to € 6.9 (vs € 6.6) - We are raising our rating from Underperform to Neutral for Bankinter following the stock’s share price performance – BKT first underperformed the banking index (SX7E) between mid-December 2022 and the ‘SVB’ shock (+17% vs +30%) then was more under pressure than the latter since the significant stress/sell-off since 8 March 2023 (-26% vs SX7E -17%), which has partly corrected the stock’s exc...Bankinter is the parent company of a group engaged in banking activities. Services provided include: investment banking; capital market services; financial services insurance; international services such as foreign exchange transactions and travelers' checks; wholesale corporate banking; and retail and private banking services. Co. offers its products and services through the following channels of distribution: branch network; telephone banking, interactive (software) banking; agents; and Internet banking. As of Dec 31 2014, Co. had assets totalling Euro57,332,974,000 and deposits totalling Euro29,966,129,000.
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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