Friday, July 1

CaixaBank presents a potential of 39% on the Ibex

Caixabank continues to be one of the financial securities with the lowest recovery in the market since the beginning of the year. Even so, is one of the first to catch up after the devastating kick-off effect of the omicron variant hitting the market. De facto, it already recovers practically everything lost, after the change in bias of a market that yesterday took profits after learning that Pfizer’s vaccine protects and that a third dose will be more effective against the new and mutant variant of Covid-19.

And some are the analysts who have bet on the value since it was produced. Three in particular have reviewed their recommendations. Two of them remain value neutral. We are talking about HSBC with a target price of 2.70 euros per share and Deutsche Bank with a PO of 2.90 euros per share.

The one that bets the most on the upward trend of CaixaBank is Morgan Stanley.Overweight the security with PO of 3.30 euros, compared to 3.15 previously, by action what awards it a potential upward run of 39%. In fact, he estimates that in a bear market his target price would be 2.25 euros and in one dominated by increases of 4 euros per share.

Usually bet on value, among its chosen in the sector in Spain together with Sabadell, Bankinter, and Unicaja. In particular, Morgan Stanley says because they expect a strong macroeconomic context in 2022 with good earnings and acceleration in M&A activity.

In its price graph we see how the positive news of Pzifer has turned to two consecutive sessions of gains for the value, and falls of half a point, after a highly volatile session like yesterday’s, already almost at pre-comic levels, despite maintaining the downward path in the last 20 trading sessions and exceeding 6%. So far this year CaixaBank has risen 14.5%.

CaixaBank annual share price

The technical analyst of Investment Strategies José Antonio González shows us that at Caixabank “the recent violation of (1) previous minimums and (2) of the area covered around 2,358 / 2,289 euros per share, It represents a serious problem for its medium-term structure, which has recently seen the medium and long-term moving averages cross downwards, enabling a scenario of further falls as long as the price does not achieve be established above 2,537 euros per share “.

CaixaBank on daily chart with average amplitude range in percentage, MACD oscillator and trading volume

CaixaBank technical analysis of the value

In addition, the main premium indicators prepared by Investment Strategies place Caixabank, in a bearish mode and with a revision of one point, at barely 1 total point of the 10 to which the value can aspire. Only positively is the volatility of the value maintained, measured in terms of its amplitude range, which is decreasing in the medium and long term.

The rest, a downward trend in both aspects, both in the medium and long term for CaixaBank, which is added at the total moment of the value, both slow and fast negative. And also the volume of business, in the medium and also in the long term, which is decreasing.

For María Mira, fundamental analyst of Investment Strategies “Based on the estimate of average market results for CaixaBank and with EPS (without extraordinary mergers) estimated for the end of 2021 of € 0.34 / share, the PER is moderated to 7.2v, compared to 8.36v for Santander and 9.94v for BBVA. Discount for PEG, with an expected EPS growth of 45% for CaixaBank in 2021, which places the PEG at 0.16v ”.

Furthermore, the fundamental expert from Ei highlights that “by book value, the market pays 0.55v for CaixaBank, compared to 0.67v for Banco Santander and 0.78v for BBVA. Greater discount for this stock market multiple for CaixaBank, which could be justified by greater uncertainty, lower ROE profitability and lower RoTE. Based on a fundamental analysis we revised the recommendation to neutral for an investment with a long-term time horizon ”.

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