Morgan Stanley Resumes Coverage of Banco Bilbao Vizcaya Argentaria (BBVA) With an Equal Weight Rating

Banco Bilbao Vizcaya Argentaria, S.A. (NYSE:BBVA) is one of the best affordable stocks to buy under $20. On October 21, Morgan Stanley resumed coverage of Banco Bilbao Vizcaya Argentaria, S.A. (NYSE:BBVA) with an Equal Weight rating and a price target of €19. The firm told investors that it sees limited upside to the consensus earnings estimates.

However, Barclays analyst Cecilia Romero reiterated a Buy rating on the stock on October 19, assigning it a €18 price target. Bloomberg reported on October 20 that the Barclays analyst stated that with Banco Bilbao Vizcaya Argentaria, S.A. (NYSE:BBVA) moving on from its “failed attempt” to buy Banco Sabadell SA, its Spanish peer, the lender should launch a new buyback plan of around €3.5 billion ($4 billion).

Romero wrote in a note that it is “now time for BBVA to reward shareholders’ patience and support.” The analyst anticipates the program’s announcement with the fiscal Q3 results, set to be reported later this month, and its launch as soon as approval from the European Central Bank is attained.

Banco Bilbao Vizcaya Argentaria, S.A. (NYSE:BBVA) is headquartered in Madrid, Spain, and operates in the traditional banking businesses of asset management, retail banking, private banking, and wholesale banking. Its operations span the United States, Spain, Mexico, Turkey, South America, and the Rest of Eurasia segments.

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Disclosure: None. This article is originally published at Insider Monkey.