Morgan Stanley da potenciales del +5% al -21% a la banca más doméstica del Ibex

Morgan Stanley has identified potential for the domestic banking sector of the Ibex to move between +5% and -21%. The rally in the stock market has limited the sector's upward movement, potentially paving the way for a correction, according to Morgan Stanley's latest valuations for CaixaBank, Sabadell, Bankinter, and Unicaja. The banking sector is once again under the spotlight for investors anticipating an upcoming surge in interest rate hikes that markets are discounting.

While Morgan Stanley advises caution with the four domestic banks of the Ibex, they believe there is more potential for downside than upside. Unicaja is the most bearish of the domestic banks in Morgan Stanley's valuations, with a price target of 2.8 euros, representing a 21% potential downside from its current price of 3.56 euros.

They have also opened the door to a correction in Sabadell, although they foresee this to be less severe than the forecast for Unicaja. Their new valuation of 3.40 euros for Sabadell represents a 5.8% potential downside from its current price of 3.61 euros. Morgan Stanley has been more favorable towards CaixaBank, raising their price target from 13 to 13.8 euros, suggesting a potential upside of +30%.

This valuation represents a 5% upside from CaixaBank's current price of 13.08 euros. Similarly, Bankinter also has room to grow, with Morgan Stanley increasing their price objective from 16.5 to 17.5 euros, indicating a 5% potential upside from the current price of 16.62 euros.