RBC and Goldman Sachs adjust price targets for BBVA and UBS

RBC has raised its price target for BBVA from 20.50 to 24 euros following the bank's second-quarter results. Despite the increase, the Canadian bank maintained a 'Sector Perform' rating. Analyst Benjamin Toms noted an 8 percent increase in the estimate for the Spanish bank's pre-tax profit for the coming year, driven by higher net interest income and fees, though these gains are offset by rising costs and impairments.

Separately, Goldman Sachs has increased its price target for UBS AG from 41.50 to 47 Swiss francs while maintaining a 'Neutral' rating. Analyst Chris Hallam adjusted the estimates following the bank's quarterly report, rolling forward the valuation basis and increasing the multiplier.