Seeking Alpha

Sell rating removed for Santander

  • Banco Santander (SAN +0.9%) gets a small pop near the open as JPMorgan removes its Sell rating on the stock and lifts one notch to Hold.
  • Despite the recovery, or at least stabilization in Spain (and Europe overall) this year, Santander has been unable to get out of its own way, slipping 7% YTD and off 3% Y/Y. Spanish competitor BBVA is up 11% YTD and  ahead 24% Y/Y.
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