Unicaja Banco downgraded to Hold from Buy at Deutsche Bank

Deutsche Bank downgraded Unicaja Banco (UNJCF) to Hold from Buy with a price target of EUR 1.75, up from EUR 1.60. Spanish bank stocks have enjoyed a strong rally in late 2024 and early 2025, but a “somewhat weaker” first half of 2025 outlook could potentially drive investors to take a more cautious stance, the analyst tells investors in a research note. The firm sees potential headwinds, primarily related to net interest income, mostly due to greater than anticipated competition, both in lending and, especially, in deposits.