CaixaBank initiated with a Sector Perform at RBC Capital

RBC Capital analyst Pablo de la Torre Cuevas initiated coverage of CaixaBank (CAIXY) with a Sector Perform rating and EUR 5.65 price target In a context of lower growth across Europe, Bankinter and CaixaBank “enjoy similar exposure to the continent’s brighter spots,” the analyst tells investors. Among the two, the analyst prefers Bankinter as the firm’s work gives it confidence in the bank’s ability to continue to deliver loan and fee income expansion above CaixaBank and other Spanish banks, the analyst added.