BBVA : price target raised by Oddo BHF
The research department highlights the solidity of the fundamentals and the short- to medium-term prospect of a gradual reduction in the discount applied to the Turkish activities in the valuation of the Basque banking group.
The upcoming municipal elections in Turkey (at the end of the month) could be a key milestone in our investment thesis", says the analyst, whose new price target implies a potential appreciation of nearly 30% for the stock.
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