What Does Wall Street Think About Banco Santander (SAN)?

Banco Santander, S.A. (NYSE:SAN) is one of the top cheap stocks under $20 to buy now. Banco Santander, S.A. (NYSE:SAN) was downgraded to Hold from Buy by DZ Bank on December 19 with a EUR 10 price target.

In a separate development, Santander Corporate & Investment Banking (Santander CIB) announced on December 9 that its U.S. broker-dealer, Santander US Capital Markets LLC, entered into a strategic equity research alliance with MoffettNathanson LLC, focused on the Technology, Media, and Telecom industry. MoffettNathanson is a leading independent equity research publisher with a team of analysts that offers critical insight into influential companies in sectors across the Technology, Media, and Telecom industry.

The initiative marks Santander CIB’s fourth U.S. equity research alliance, coming after earlier agreements with Vertical Research Partners LLC (industrials and materials), Telsey Advisory Group LLC (retail, consumer, and e-commerce), and Nephron Research LLC (healthcare).

Management further reported that the alliance would allow Santander CIB to bolster its U.S. client offerings through the expansion of access to specialized equity research and sector intelligence via MoffettNathanson. In addition, Santander’s global scale, cross-border reach, and capital markets expertise would position MoffettNathanson to expand its impact with institutional investors across the globe.

Banco Santander, S.A. (NYSE:SAN) also received a rating update from RBC Capital on December 5, who reaffirmed a Hold rating on the stock and set a price target of €8.50.

Banco Santander (NYSE:SAN) is a Spain-based company that operates as a retail and commercial bank. Its segments are scattered across Continental Europe, the United Kingdom, Latin America, and the United States.

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Disclosure: None. This article is originally published at Insider Monkey.