RBC Downgrades Sabadell, Cites Lack of Diverse Revenue

RBC Capital Markets downgrades Banco de Sabadell, Spains fourth-largest bank, from outperform to sector perform, slightly increasing its price target to three dollars and thirty cents. Despite this, shares drop by four percent due to concerns over the banks lack of diverse revenue streams and increasing price competition. The analysts believe the stock is fairly valued, with only a two percent potential upside. However, the sale of TSB is seen as a positive move, providing a strong short-term distribution profile and planned shareholder payouts of six point four five billion euros between fiscal year twenty-twenty-five and twenty-twenty-seven.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.