CaixaBank : More favourable momentum than initially anticipated in 2023
>Upgrade to Outperform (vs Neutral) - Target price lifted to € 4.8 (vs € 4.4) - Caixabank’s Q4 2022 publication presented net profit that beat forecasts at € 688m (+9% vs the consensus) with another solid underlying operational performance (revenue, costs, cost of risk) an on capital. Our approach remains positive on Caixabank’s fundamentals and after the upward revision to our forecasts for net profit prompted by the group’s guidance/message for 2023 (+9% on average ...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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