BBVA shares rise after Sabadell rejects takeover proposal
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 07 2024
0mins
Source: Yahoo Finance
- BBVA's Proposal Rejected: Sabadell rejected an unsolicited takeover proposal from BBVA, causing BBVA shares to rise.
- Market Reaction: BBVA's shares were up 1.5%, while Sabadell's shares were down 1.7% following the rejection.
- Potential Outcomes: BBVA could walk away, raise its offer, or launch a hostile takeover bid in response to Sabadell's rejection.
- Analyst Predictions: Analysts believe BBVA may not improve its offer or go hostile, and switching to a cash bid is unlikely.
- Financial Details: BBVA proposed offering one newly issued share for each 4.83 Sabadell shares, valuing the deal at about 12 billion euros initially.
Analyst Views on BBVA
Wall Street analysts forecast BBVA stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for BBVA is 23.00 USD with a low forecast of 23.00 USD and a high forecast of 23.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 25.020
Low
23.00
Averages
23.00
High
23.00
Current: 25.020
Low
23.00
Averages
23.00
High
23.00
About BBVA
Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) is a Spain - based bank. It is a diversified financial company engaged in retail banking, wholesale banking, asset management and private banking. Its segments are: Spain, the United States, Turkey, Mexico, South America and Rest of Eurasia. The activities in Spain are banking activity and Insurance. In the United States it offers services through, BBVA USA and the BBVA New York branch. The Turkey segment is represented by the group Garanti BBVA, an integrated financial services group, that also operate in Holland and Romania. The Mexico segment activities include banking and insurance businesses. In South America, it provides banking and insurance businesses. The Rest of Eurasia segment includes business activity in the rest of Europe and Asia
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
