CaixaBank : Confirmation in Q2/H1 2024 of the favourable short- to medium-term outlook
>Outperform rating maintained – target price increased to € 6.7 (vs € 6.4) - Q2/H1 2024 results confirmed the favourable operating trends and provided further slight validation of the guidance (RoTE now expected to be >17%) in 2024. Combined with the group’s balance sheet strength and adequate business model diversification, this confirms the stock as one of our Top Picks in the sector. We increase our net income estimates for the period 2024-2026 (+4% on average) and...Caixabank is an investment company based in Spain. Co. is involved in investment portfolio management activities across two areas: Services and Financial Business and Insurance. In the services area, Co. provides investment solutions for companies involved in the infrastructure, energy, services and entertainment sectors. In the financial business and insurance area, Co. is engaged in the investments for international banks, insurance and specialist financial services. Co. focuses most of its banking investments in India, China, the U.S., and Central and Eastern Europe with a particular interest in retail banking. Co. is also involved in the disinvestments activities.
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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