RBC Updates Price Target, Estimates for BBVA Post-Q3 Results

MT Newswires · 2d ago
03:57 AM EST, 11/06/2026 (MT Newswires) -- RBC Capital Markets adjusted its price target and earnings forecasts for Banco Bilbao Vizcaya Argentaria (BBVA.MC) after the Spanish lender released its third-quarter results. "Our FY27 net profit estimate decreases by 1% driven by lower non-core income (trading and other), slightly higher costs and impairments and a higher Group effective tax rate (+c.60bps driven by Turkey, South America and RoB), which are partly offset by higher NII (loan growth & Turkey, South America and RoB)," analysts said in a model update note published Friday. For the three months ended Sept. 30, BBVA recorded an operating income of 6.75 billion euros, up from 5.53 billion euros a year ago, and an attributable net profit of 3.02 billion euros versus 2.53 billion euros previously. Against this backdrop, the research firm models cumulative net profit of 49.4 billion euros for full-year 2025 to 2028, against management's target of 48 billion euros. Meanwhile, analysts forecast total shareholder distribution of 41.3 billion euros for the same period, comprising 22.8 billion euros in dividends and 18.5 billion euros in share buybacks. RBC also trimmed the stock's price target to 23.50 euros from 24 euros while maintaining its sector perform rating.