Research Disclosures & Disclaimers

This website contains disclosures and disclaimers related to
published UBS Global Research products, including those related to
regulation, potential conflicts of interest as well as those provided
by third-party data providers describing limitations on use of their
products.

BBVA (BBVA.MC)*

UBS Rating and Price Target History Chart

Line chart explaining Price target vs Stock Price is described in below table

EQ Rating & Price Target Table

Date	Stock Price (€)	Price Target (€)	Rating
2022-04-15	NaN	6.25	Neutral
2022-06-29	4.32	6.65	Buy
2022-07-14	4.00	6.60	Buy
2022-09-21	4.93	7.10	Buy
2022-10-18	4.94	7.30	Buy
2022-10-31	5.21	7.65	Buy
2023-01-23	6.45	7.85	Buy
2023-02-01	6.77	8.40	Buy
2023-04-19	6.92	8.70	Buy
2023-05-01	6.65	9.20	Buy
2023-06-26	6.75	9.00	Buy
2023-07-17	7.10	9.30	Buy
2023-07-31	7.21	9.85	Buy
2023-10-16	7.70	10.20	Buy
2023-11-01	7.59	10.40	Buy
2024-01-24	8.23	10.10	Buy
2024-01-31	8.68	10.85	Buy
2024-03-19	10.51	11.45	Buy
2024-04-18	10.42	11.85	Buy
2024-04-30	10.18	12.35	Buy
2024-05-09	9.60	-	No Rating

Disclosures

UBS has acted as manager/co-manager in the underwriting or placement of securities of this company/entity or one of its affiliates within the past 12 months.
UBS Europe SE is acting as a financial advisor to Banco Bilbao Vizcaya Argentaria SA (BBVA) on the potential merger with Banco de Sabadell SA.
Within the past 12 months, UBS has received compensation for investment banking services from this company/entity or one of its affiliates.
UBS expects to receive or intend to seek compensation for investment banking services from this company/entity within the next three months.
This company/entity is, or within the past 12 months has been, a client of UBS Securities LLC, and non-investment banking securities-related services are being, or have been, provided.
This company/entity is, or within the past 12 months has been, a client of UBS Securities LLC, and non-securities services are being, or have been, provided.
Within the past 12 months, UBS has received compensation for products and services other than investment banking services from this company/entity.
UBS Securities LLC makes a market in the securities and/or ADRs of this company.
UBS holds a long or short position of 0.5% or more of the listed shares of this company.

Note : Historical Price Targets have been adjusted to account for any stock splits, rights issues and/or dividends which may have occurred for this security. Not Priced: Stock was not priced on the given date. No Rating: Issuer was not rated by UBS on the given day. No Price Target: For this issuer no Price Target was set by UBS on the given day. Issuers with an EQ Rating & Price Target Table are covered by UBS-IB Equity Research Analysts. Issuers without an EQ Rating & Price Target Table are not single stock covered.

* Issuers marked with an asterisk are covered by UBS-IB Equity Research Analysts. Issuers without an asterisk are not single stock covered.