By: Benzinga
January 22, 2013 at 08:59 AM EST
UPDATE: Deutsche Bank Downgrades Banco Bilbao Viscaya Argentaria S.A. to Hold on Valuation
Deutsche Bank downgraded Banco Bilbao Viscaya Argentaria S.A. (NYSE: BBVA ) from Buy to Hold. Deutsche Bank noted, "While acknowledging the positives of its investment case, BBVA has had a strong run (+11% YTD; +76% since July 2012) and trades at 1.3x 2014E P/TBV, with an expected RoTE of 14.5%
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