Banco Santander upgraded to Outperform from Market Perform at Keefe Bruyette

Keefe Bruyette analyst Hugo Cruz upgraded Banco Santander (SAN) to Outperform from Market Perform with a price target of EUR 6.77, up from EUR 5.24. The bank’s low valuation multiple makes it a good way to play the emerging theme of European banks’ rerating, the analyst tells investors in a research note.

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