Barclays analyst Cecilia Romero Reyes sees Banco Santander h...

Barclays analyst Cecilia Romero Reyes sees Banco Santander having the most positive EPS progression into 2025 among Spanish banks, due to factors like negative rate sensitivity, volume growth, and cost-cutting. Despite a downgrade, BBVA's price target has been raised from €10.1 to €11.4 due to lower risk in Mexico and Turkey, and higher volume growth in FY25 for Mexico.