CaixaBank downgraded to Neutral from Outperform at Barclays

Barclays downgraded CaixaBank (CAIXY) to Neutral from Outperform with an unchanged price target of EUR 6. Revenue contracting, rising cost, stagnant provisions and higher capital requirements make for a comparatively less appealing scenario over the next two years for the Spanish banks, the analyst tells investors in a research note.