The American analysis firm Jefferies has raised the target price of BBVA, which goes from 27 euros to 27.5 euros per share. With the current quotation, this new level represents a potential upside of close to 11%, according to a recent report from the entity.
In the document, the experts emphasize the determining weight of the business in the Aztec country: "The Mexican franchise continues to be the key value driver, and potential concerns about the macro and politics are more than offset by the strength of the underlying business," the analysts from Jefferies have stated.
Regarding activity in the Spanish market, the analysts point out that internal trends constitute "support," despite the fact that the interest margin for the second quarter was somewhat weaker than initially expected.
As for Turkey, the firm recalls that the outlook remains "challenging," although it considers that those risks are already reflected in the bank's quotation.
Jefferies estimates that BBVA is trading at an approximate discount of 5% compared to its European peers, as it exchanges at about 10 times estimated earnings for 2027 and 9 times for 2028.
In terms of results, BBVA closed the first half of 2026 with a net profit attributed of 6.051 billion euros, representing an increase of 11.1% compared to the same period of the previous year. Between January and June, total revenues (gross margin) reached 21.159 billion euros, 17.3% more in year-on-year terms. Within that item, net interest income (interest margin) advanced 20.3% year-on-year, reaching 15.164 billion euros.