Credit Suisse raises BBVA's target price to 5.50 euros after the presentation of results

MADRID, 31 Oct.

Credit Suisse raises BBVA's target price to 5.50 euros after the presentation of results

MADRID, 31 Oct. (EUROPA PRESS) -

Credit Suisse has maintained its 'neutral' view on BBVA, but raised the price target to €5.50 from €5.20 per share after the bank reported results boosted by revenue from Mexico and Turkey.

In the report, the Swiss bank's analysts point out that the performance in these two geographies has beaten expectations and a lower-than-expected adjustment for hyperinflation accounting applied to Turkey.

However, experts foresee an increase in costs in Latin America due to inflationary pressures and indicate "limited visibility" due to the bank's greater exposure to inflation in Turkey, the impact of monetary policy and currency volatility.

Likewise, they emphasize that they are pending the actions that BBVA takes with respect to its excess capital, which could go to an increase in shareholder remuneration.

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