CaixaBank : Q3 2023: confirmation of robust operating/balance sheet momentum
>Outperform rating maintained - Target price raised to € 5.8 (vs € 5.6) - CABK confirmed its very favourable trend on both the operating and balance sheet front (capital), confirming the stock’s place among our sector top picks in the current context. Net income beat forecasts at € 1.5bn (+11% vs cons) with another robust underlying operating performance for the key elements (revenues, costs, CoR). The group also further improved its NII guidance while reiterating tha...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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