Deutsche Bank has issued contrasting rating adjustments for two of Spain's largest lenders, downgrading CaixaBank while upgrading Banco Sabadell, according to reports from MarketWatch and Expansion.
The moves underscore the diverging trajectories within the Spanish banking sector as investors prepare for the upcoming second-quarter earnings season.
The German lender's analysts view the upcoming reporting period as a critical test for Spanish banks, with CaixaBank facing headwinds that prompted the negative revision.
Conversely, Banco Sabadell received a more favorable assessment, reflecting improved prospects or relative strength compared to its peers.
These adjustments add nuance to the broader bullish stance Deutsche Bank has maintained on the Spanish financial sector.
The bank previously issued buy recommendations for four major Spanish lenders, including BBVA, Santander, Bankinter, and Sabadell.