Tuesday, October 4

Three values ​​of the Ibex 35 in which HSBC sees potential for this 2022


Yes, yesterday HSBC adjusted its estimates to Banco Sabadell and Caixabank, today it is the turn of two other Ibex 35 banks and the oil company par excellence of the selective. Banco Santander, BBVA and Repsol are subject to review by the broker this Tuesday and, taking a first look at the figures, they come out well in terms of their stock market run for the next twelve months.

In the case of Banco Santander, HSBC analysts have revised the target price of Santander shares upwards and place them at 4.30 euros from the previous 4.2, which represents a potential in the Ibex 35 for Ana’s bank Patricia Botín of 36.5% taking into account the 3.15 euros of yesterday’s closing.

Last Wednesday, January 12, José Lizán, manager of Magnum Sicav in Quadriga, explained that “Banco Santander could be a value to look at at the beginning of the year, since it has presented good figures and it is cheap”. In addition, Lizán added that “Banco Santander has lagged far behind the sector and we don’t really understand why.”

Banco Santander will present its financial figures for the fourth quarter of last year on February 2nd. (See the 2021 Results Calendar of the 35 Ibex listed companies in full).

Another value of the selective that HSBC sees with good eyes is Repsol. The analysts of the international firm see an upward trend of 7.7% for the shares of the oil company in the Ibex 35, taking into account the 12 euros target price they give it (compared to 11.8 euros before) and its price at the close of yesterday, Monday, at 11.14 euros.

Repsol, which will report to the market on February 17, the day in which it will communicate its accounts for Q4 2021, is one of the securities that has a weight of 20% in Ei’s Ibex 35 Portfolio.

Just yesterday, Ei’s director of analysis, Luis Francisco Ruiz, analyzed the value and pointed out that “the security continues to climb positions and is approaching the annual maximum of 2021 and key market resistance located at 11,462. The movement allows the price series to retain the rising significant lows structure that is supported by (1) above-average trading volume and (2) low volatility.” “We maintain long positions or open buyers with a weekly closing stop below 8.458,” added Luis Francisco Ruiz. (See Repsol’s technical analysis in full with the key levels and the rest of the values ​​of Ei’s Ibex 35 Portfolio).

Finally, BBVA is the last value of the Ibex that HSBC analysts review today and, in this case, they do so downwards. Specifically, the investment firm cuts the target price of BBVA shares from 6.3 euros to the 6.10 it currently gives them, a figure that, however, serves to give BBVA a potential of 5.5% in the Ibex 35.

The bank will present its results for the 2021 financial year on February 3. Today, Ei’s fundamental analyst, María Mira, analyzes the entity’s figures until September, in addition to making forecasts for 2021-2022, solvency and dividend policy for BBVA prior to results.

Date Value Broker P.O.
Santander Bank HSBC 4,30
From 4.2 euros
Repsol HSBC 12,00
From 11.8 euros
BBVA HSBC 6,10
From 6.3 euros



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