Jefferies cut target for Banco Santander stock to EUR 12.00

Published on 10/08/2026 at 11:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Goldman Sachs kept Buy with a target of EUR 14.10 on October 1, 2026. Banco Santander stock costs EUR 11.97 versus EUR 12.23 on October 8, 2026.

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Banco Santander (ISIN ES0113900J37) had its price target cut to EUR 12.00 by Jefferies on September 29, 2026, as Demócrata reported. Jefferies retained its Buy recommendation, linking the lower target to political risk and interest-rate sensitivity in Brazil.

Analysts trim targets

Jefferies lowered its target by 4.00 percent to EUR 12.00, according to the September 29 report. The analysis highlighted Brazil's presidential election cycle and the possible effect of lower benchmark rates on Santander Brasil's margins.

Goldman Sachs also kept Buy but cut its target from EUR 14.40 to EUR 14.10 on October 1, 2026, according to finanzen.at. The report said Goldman reduced its earnings forecasts through 2028 by up to 3.00 percent because of lower revenue estimates ahead of the next quarterly report.

Profit growth supports returns

Santander reported EUR 7.33 billion in underlying profit in the first half of 2026, up 15.00 percent from the year-earlier period. Revenue rose 6.00 percent to EUR 30.85 billion, while the efficiency ratio improved to 42.80 percent, according to Banco Santander in its September 29, 2026 release.

The same release set the interim cash dividend at EUR 0.13 per share, up 10.00 percent from the previous year, with payment scheduled for November 2, 2026. Santander also kept its 2026 target for underlying profit above the EUR 14.10 billion reported in 2025.

Results date sets the next test

Santander's investor calendar lists its third-quarter 2026 earnings presentation for October 28, 2026. The date places the next disclosure ahead of the November 2 dividend payment and gives analysts a fresh checkpoint for credit quality, margins and Brazil.

The target cuts create a clear numerical split: Jefferies' EUR 12.00 target is only EUR 0.03 above the Lang & Schwarz price, while Goldman Sachs' EUR 14.10 target is EUR 2.13 higher. Those reference points frame the market's near-term debate around capital returns and earnings execution.

Stock trades below prior close

Banco Santander was trading at EUR 11.97 at Lang & Schwarz on October 8, 2026 at 11:15 a.m. CEST, down 2.13 percent versus the prior close of EUR 12.23 dated October 7, 2026. The BME quote was EUR 11.99 at 11:04 a.m. CEST on October 8, 2026, providing separate primary-exchange context.

The further course of trading is shown by the continuously updated real-time quote of Banco Santander stock.