Banco Santander, S.A. (NYSE:SAN) has been identified as an affordable stock priced under $30. In early January, the company received a series of rating updates from major financial firms.
On January 10, Bank of America Securities reaffirmed its Hold rating on Banco Santander and set a price target of €11.00. The previous day, January 9, Barclays reiterated a Buy rating with a €11.30 price target. RBC Capital also maintained a Hold rating on January 8, establishing a price target of €8.50.
Additionally, on December 19, DZ Bank downgraded Banco Santander from Buy to Hold, assigning a price target of EUR 10.
In a separate announcement on December 9, Santander Corporate & Investment Banking (Santander CIB) stated that its U.S. broker-dealer, Santander US Capital Markets LLC, entered into a strategic equity research alliance with MoffettNathanson LLC. This partnership will focus on the Technology, Media, and Telecom industry.
This initiative represents Santander CIB's fourth U.S. equity research alliance. Previous agreements include alliances with Vertical Research Partners LLC covering industrials and materials, Telsey Advisory Group LLC for retail, consumer, and e-commerce, and Nephron Research LLC in the healthcare sector.
Banco Santander is a Spain-based retail and commercial bank. The company operates segments across Continental Europe, the United Kingdom, Latin America, and the United States.