BBVA has already recovered 4% in the last month, especially after the good closing and better beginning of October and that consecutive and accumulated advance of 7.5%. This improvement also favors the reduction of annual losses. In addition, the improvement in the recommendations of the experts, up to six since the end of September, has materialized the average potential of the value up to 37% with an average target price of 6.60 euros per share.
Societé Generale is committed to buying BBVA shares in the market with a target price of 6.20 euros per share, despite the fact that it represents a reduction of up to one euro compared to its previous PO. In the case of Citigroup, the rating is also buy for its shares with a target price set by the American firm at 7 euros per title.
Already at Exane BNP Paribas, it is decided to maintain the portfolio value with a PO of 6.20 euros per share. In the case of Deutsche Bank, it is also committed to buying its shares in the market with a target price of 6.45 euros per share.
UBS defends the purchase of BBVA shares with the best target price of this short list: we are talking about 7.10 euros per share, with the analyst Ignacio Cerezo indicating that in his meeting with the directors of the entity the general impression was positive. Especially because of the emphasis they put on two tailwinds: the level of their capital ratio and the increase in interest rates.
Meanwhile, from JPMorgan, the analyst Sofie Peterzens rates BBVA shares as neutral and with a PO of 6.70 euros, also with a positive tone on the value, with the expected improvement in profitability and capital generation despite the great current uncertainties macroeconomic
In its price graph we see that the value advances, as we said before, by 4.2% month-on-month, especially after the strong rebound of 7.5% implemented in the transit at the beginning of the month, which, despite the last two consecutive falls in the preceding sessions, remains positive. This leads him to minimize the annual falls that reach 4.43%.
For José Antonio González, Investment Strategies analyst, at BBVA “the recovery that began at €4.1278 / €3.97 per share is gaining in intensity thanks to the development of a structure of rising highs and lows that allows prioritizing maintenance of a bullish process as long as we do not witness in the short term a perforation of the support area of €4.409 / €4.3555 per share. At the top, the next target is €5,202, whose exceedance would allow the price to approach the secondary or medium-term decreasing guideline”.
In addition, the technical indicators prepared by Investment Strategies show us an improvement, rebound, with one point, with which the total score reaches 4 of the 10 possible to which the value can choose. With a long-term bearish trend, but medium-term bullish, mixed total momentum, fast positive and slow negative, with increasing turnover in the long term and decreasing in the medium. Meanwhile, unanimity, both in the medium and long term in terms of volatility, since it is growing in both cases.
In statements to Investment Strategies, José Luis Herrera, an analyst at the Global Investment Bank (BiG), considers that BBVA “is in a corrective process. The key is in the base of the channel that he left in July, in the 4 euros. It has been making a succession of increasing minimums and, if it leaves 4.50 euros, it could fall to 4 euros. If it respects the support and does not lose the current area, it could go up to around 5.30 euros”.
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