BBVA : Q3 2024 in keeping with 2024 guidance
>Outperform rating maintained – target price reduced to € 13.0 (vs € 13.6) - BBVA’s performance in Q3/9M 2024 remains solid (operationally/balance sheet-wise) and lends weight to the 2024 guidance. We have raised our 2024-2026 net income forecasts by 2% on average given more favourable prospects on revenues (NII, commissions) and despite a slightly more conservative stance on the CoR. We maintain our Outperform rating on the stock in light of the bank’s solid prospect...Banco Bilbao Vizcaya Argentaria is an international financial group, engaged primarily on providing banking services and consumer finance to private individuals and businesses in Spain and Portugal; providing real estate activity in Spain; providing services to international companies and investment banking, capital markets and treasury management services to clients; and providing the banking, insurance and pension businesses in Mexico and the U.S., as well as in South America.
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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