RBC Capital Markets lowered Banco Santander's 2028 net interest income forecasts and raised restructuring charges, reducing its target price to 13.25 euros while maintaining an outperform rating. Shares dipped 1.5% to 12.14 euros. Citi increased its 12-month bitcoin target to $113,000 from $82,000 citing debasement fears and regulatory clarity, with bitcoin trading at $83,898.
UBS analysts noted Caixa Bank faces temporary net interest income headwinds in late 2026 due to liability repricing, though AI disruption is viewed as gradual. Citi analysts assessed the threat of AI agents to European bank deposits as overblown, expecting tools to remain embedded within bank digital offerings rather than replacing traditional relationships. BBVA, Caixa Bank, and KBC are best positioned incumbents.
J. P. Morgan analysts noted the U.K. budget provides third-quarter distraction but the banking backdrop remains resilient with a modest bank tax rise priced in.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing