Morgan Stanley has issued new valuations for Ibex banks, suggesting declines of up to 21%. Analysts highlight the need to be selective in the domestic banking sector.
Analysts at Morgan Stanley have revised their valuations on the more domestic banks of the Ibex, warning of a possible downward adjustment in their shares. This analysis comes in a context where markets anticipate new interest rate hikes, which could impact the banking sector.
The firm has analysed CaixaBank, Sabadell, Bankinter, and Unicaja, indicating that most of these entities may be overvalued. In particular, Unicaja presents the most pessimistic outlook, with a revised target price of 2.8 euros, implying a 21% downside potential from its recent close of 3.56 euros.
In the case of Sabadell, although its downside potential is lower, a target price of 3.40 euros is estimated, representing a 5.8% drop from its current quote of 3.61 euros. On the other hand, CaixaBank and Bankinter have a more positive projection, with target prices of 13.8 euros and 17.5 euros, respectively, both with an upside potential of 5%.
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