CaixaBank : Improved medium-term outlook vs limited upside (relative to the sector)
>Neutral rating reiterated – target price increased to € 3.9 (vs € 3.4) - The new medium-term (2022-2024) strategic plan recently unveiled by CABK looks well put-together (i.e. based around main areas/levers already successfully developed in recent years), is generally ambitious even though based on still-cautious underlying assumptions, and confirms a more positive stance regarding shareholder returns. The targets set, despite our slightly more cautious approach giv...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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