BBVA: More Pain to Come?
We carried out a sum-of-parts analysis of Banco Bilbao Vizcaya Argentari (BBVA SM) in March and felt that the bank was undervalued. Metrics seemed...
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BBVA: A De-Risking/Growth Mix
Our thesis is that Banco Bilbao Vizcaya Argentari (BBVA SM) is undervalued on a sum of parts valuation. This is based on attributing a 20% value...
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Major M&A Possible for Unicredit in the Medium Term
Unicredit, the listed Italian bank, may engage in major M&A transactions in the medium term, a source close to the company and two sector...
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