Like their first quarter result. Good growth coming from Latin America. A slowing economy in Britain & Europe / possible implosion of a property bubble in Britain / Europe are the concerns.
Banco Santander has no write down related to sub-prime mortgage in the US. It is one of the best bank you want to own in this banking crisis. Its going to benefits from its business in Latin America this year.
First quarter profits increase 22%. Recommend adding the shares on weakness, especially when it is drags down by negative news of other banks.
Target price move up to $22 based on strong first quarter earnings.
$21.77 (05/04/08)
