Spanish stocks - Factors to watch on Nov 16

Nov 16 (Reuters) - The following Spanish stocks may be affected by newspaper reports and other factors on Monday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy:


BBVA said it had reached an agreement with PNC Financial Services Group for sale of 100% of its subsidiary BBVA USA Bancshares for 9.70 billion euros.


Spanish lenders, including Santander, are increasing cost-cutting measures to cope with the economic impact from the COVID-19 pandemic, ultra-low interest rates in the euro zone and a shift by customers towards online banking. On Friday, two sources with knowledge of the matter said that Santander was planning to cut 4,000 jobs, or around 14% of its total workforce in its home market.


The company reported on Friday 9-month net profit of 7.7 million euros down from 8.6 million euros a year ago.


The company’s shares will be delisted from trading in Madrid Stock Exchange from November 16.


The company on Friday reported a 9-month net loss worth 1.2 million euros compared with a profit of 17.2 million euros a year ago.


Goldman Sachs raised to “buy” from “neutral”.


Credit Suisse raised its target price to 71 euros from 62 euros.


Credit Suisse raised its target price to 18.3 euros from 16.4 euros.

Barclays raised its target price to 21.4 euros from 19.2 euros.

BANCO DE SABADELL Citigroup raised its target price to 0.35 euros from 0.30 euros.


HSBC raised its target price to 200p from 140p.


Citigroup raised its target price to 65 euros from 62 euros.

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