Goldman Sachs starts Sabadell at 'sell' on limited upside

Banco de Sabadell

08/07/2026 07:59

** Goldman Sachs initiates coverage of Banco de Sabadell SABE.MC with a "sell" rating, saying the Spanish lender offered limited upside against consensus estimates and its valuation
** The brokerage firm set a target price of €3.10 per share vs market price of €3.22, implying about 3.8% downside
** It said the bank's sale of TSB would strengthen capital, but it said most of that benefit has already been paid out, leaving limited room for a re-rating
** It also said Sabadell traded at a slight premium to its European banks coverage on some valuation measures despite softer medium-term earnings growth and greater reliance on net interest income
** Out of 22 analysts who cover Sabadell, eight rate the stock "strong buy" or "buy", 11 rate it "hold" and three rate it "sell" — LSEG data


 (Reporting by Mireia Merino)
 ((Mireia.merino@thomsonreuters.com))