Morgan Stanley takes over the Spanish banking business and BBVA bears the consequences By Investing.com

Investing.com – Spanish Bank did not start on a good foundation this tuesday following a change of recommendation of the indicative price of their shares by the analysts of Morgan Stanley (NYSE :). Throughout the day, the entity that has suffered the most from this new perception of the analysis service of the international bank is BBVA (MC :), which leaves more than 4%.

In fact, the entity, always headed by Francisco González, is the value that comes back to him the most. In this sense, Morgan Stanley has reduced its price target to 6.3 euros.

Other entities also affected by Morgan Stanley's change of opinion are: bank Santander (MC 🙂 and Sabadell (MC :). The bank headed by Ana Botín also sees analysts reduce their potential from 5.9 to 5.8 euros. For its part, the Catalan bank, which moved its headquarters after political instability, sees losing the target of 1.75 euros to stay at 1.45 euros per share.

However, Banco Santander kept the rate during the trading session and Banco Sabadell was piqued by pessimism and lost more than 1.5%.

Caixabank (MC 🙂 is saved from burning

The only bank to have won the case according to the report published by Morgan Stanley is Caixabank. Analysts have raised the indicative price of the action from 20 cents to 5 euros.

It should be noted that Caixabank introduced the new Strategic plan of the company. Thus, the entity has set targets for 2021 and expects profitability to reach 12% over the next two years, up from 10% currently.

As explained by the bank, the resources of the managed clients need to be increased. This means that 43% of these resources must come from the long-term savings of customers and the sale of insurance.

Despite the two news around Caixabank, the market turned its back on the bank's securities early in the session because falls 1% and remains at 3.68 euros.