0857 GMT - Targets presented at CaixaBank's investor day seem achievable and provide confidence, RBC Capital Markets says in a research note, adding that upsides from here is likely to be limited. "We find it hard to identify future incremental catalysts for the shares and prefer to stay on the sidelines at current valuation levels," the analysts write. The Spanish lender is betting on loan demand recovery to meet its targets and has set the bar well above its peers for net interest income guidance and sensitivity disclosure, which is welcome, they note. Yet, CaixiaBank's ambitions in non-banking fee segments appear sound but not extraordinary, they add. RBC initiates the stock at sector perform with a target price of 5.65 euros. Shares are at 5.66 euros, up 44% on a 12-month basis. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
January 16, 2025 03:57 ET (08:57 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.