RBC Capital Lifts PT on Banco Santander (SAN) to EUR 8.50 From EUR 7.50, Keeps a Sector Perform Rating

Banco Santander, S.A. (NYSE:SAN) is one of the best undervalued stocks to buy under $50. Banco Santander, S.A. (NYSE:SAN) received a rating update from RBC Capital on November 3, with the firm lifting the price target to EUR 8.50 from EUR 7.50 while keeping a Sector Perform rating on the shares.

The rating followed Banco Santander, S.A.’s (NYSE:SAN) release of results for the nine months of 2025, with revenue stable at €46.3 billion and record net fee income, up 4% year-over-year. Operating expenses, however, dropped by 1%, with management attributing the decrease to the bank’s pivot towards a more digital, simpler, and globally integrated model.

Banco Santander, S.A. (NYSE:SAN) further reported €10.337 billion in attributable profit for the first nine months of 2025, up 11% from the same period last year and marking a record performance for the period for the company. Attributable profit for fiscal Q3 2025 also achieved a new record of €3.504 billion, marking an 8% year-on-year growth and a sixth consecutive record quarter.

In addition, its customer base experienced the addition of more than seven million new customers over the past 12 months, bringing the total number to 178 million. These strong results were attributed to record levels of fee income and further efficiency gains, solid performance in net interest income, and continued improvement in credit quality.

Banco Santander (NYSE:SAN) is a Spain-based company that operates as a retail and commercial bank. Its segments are scattered across Continental Europe, the United Kingdom, Latin America, and the United States.

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