RBC Capital downgraded BBVA (BBVA) to Sector Perform from Outperform with a price target of EUR 19.75, up from EUR 19.25. While the bank is “best in its class across a number of metrics,” further increases in the stock at current valuation levels “could be much harder to come by,” the analyst tells investors in a research note. RBC views BBVA’s valuation as currently “full-ish.”
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