BBVA: Deutsche Bank cuts to hold from buy

Deutsche Bank has downgraded its recommendation for Banco Bilbao Vizcaya Argentaria, S.A. (NYSE: BBVA) from "Buy" to "Hold," according to recent analyst updates. This move follows a reassessment of the bank’s outlook amid evolving market conditions and performance expectations. The decision contrasts with earlier actions in February 2026, when Deutsche Bank had raised its price target for BBVA to €21.24 from €19.75, citing improved net interest income and higher return on tangible equity forecasts.

Despite the downgrade, BBVA continues to show strong financial performance. The bank reported a net income of €11.41 billion for the year ending May 2026, with earnings per share increasing by 9.57% year-over-year. Analysts project continued growth, with net attributable profit expected to rise from €11.47 billion in 2026 to €13.36 billion by 2028.

The downgrade reflects a more cautious stance from Deutsche Bank, emphasizing the need for investors to closely monitor BBVA’s operational performance and broader economic factors that could influence its trajectory.