Deutsche Bank has withdrawn its buy recommendation on BBVA, signaling growing caution among major Wall Street and European analysts regarding the Spanish lender’s near-term trajectory.
The move questions the durability of BBVA’s recent stock performance, which has been a key driver for the Ibex 35 index.
The downgrade follows a similar action by Bank of America, which recently removed its buy rating on BBVA citing elevated risks linked to the bank’s operations in Turkey.
With two major institutions now expressing skepticism, investors are reassessing the risk-reward profile of the Spanish banking sector’s leading export-oriented player.
BBVA’s exposure to emerging markets, particularly Turkey, has become a focal point for risk management concerns.
Geopolitical instability and currency volatility in the region pose direct threats to the bank’s asset quality and profitability.