Skip to main content

Market Overview

Barclays Upgrades Banco Bilbao Vizcaya Argentaria To Equal Weight

Barclays Upgrades Banco Bilbao Vizcaya Argentaria To Equal Weight

Barclays has upgraded Banco Bilbao Vizcaya Argentaria SA (ADR) (NYSE: BBVA) to Equal Weight from Underweight, saying that currency headwinds are offsetting the bank's "good" operational performance.

"We expect these currency headwinds to reduce in 2H16 and more materially in early 2017, making underlying business performance more evident, particularly the strength of its Mexican operations," analyst Rohith Chandra-Rajan wrote in a note.

"If there is effective stimulus in the US then this could further boost the performance of BBVA's operations in the US and Mexico," the analyst continued.

Related Link: Barclays Upgrades Banco Santander, Positive On Positioning

In addition, the analyst sees a modest improvement in RoTE and expects a 10-

11 percent RoTE in 2016E-2019 driven by growth in the Mexican business and near-term improvements in domestic credit quality offsetting margin pressure.

Meanwhile, the analyst highlighted Spain elections, Brexit impact and Turkey political situation as key risks.

At time of writing, ADRs of Banco Bilbao were down 1.34 percent at $6.28.

Full ratings data available on Benzinga Pro.

Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Latest Ratings for BBVA

Mar 2021BarclaysDowngradesOverweightEqual-Weight
Feb 2021JefferiesUpgradesHoldBuy
Feb 2020RedburnReinstatesNeutral

View More Analyst Ratings for BBVA
View the Latest Analyst Ratings


Related Articles (BBVA)

View Comments and Join the Discussion!

Posted-In: BarclaysAnalyst Color Emerging Markets Price Target Commodities Initiation Markets Analyst Ratings

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at