Santander Stock Recommendations and Price Targets

This is a list of recent ratings by Santander.

Date	Company Name	Action	Current Price	Rating
2/2/2026	NOK Nokia	Upgrade	$7.00	Neutral ➝ Outperform
1/29/2026	STNE StoneCo	Downgrade	$17.00	Outperform ➝ Neutral
1/28/2026	ENIC Enel Chile	Downgrade	$4.00	Neutral
1/22/2026	ASML ASML	Downgrade	$1,441.00	Neutral ➝ Underperform
1/15/2026	ADDYY Adidas	Initiated Coverage	$89.00	Outperform
12/23/2025	COTY Coty	Downgrade	$3.00	Neutral
12/17/2025	CIB Grupo Cibest	Downgrade	$83.00	Underperform
12/15/2025	FBBPF FIBRA Prologis	Upgrade	$5.00	Outperform
12/12/2025	AMX America Movil	Downgrade	$21.00	Outperform ➝ Neutral
12/11/2025	PPC Pilgrim's Pride	Upgrade	$44.00	Neutral ➝ Outperform
12/11/2025	BCCLF Becle	Upgrade	$1.00	Outperform
12/11/2025	GRBMF Grupo Bimbo	Downgrade	$3.00	Neutral
12/11/2025	JBS JBS	Upgrade	$16.00	Neutral ➝ Outperform
12/5/2025	WPLCF Wise	Initiated Coverage	$13.00	Outperform
12/4/2025	NU NU	Upgrade	$18.00	Neutral ➝ Outperform
11/21/2025	AMADY Amadeus IT Group	Upgrade	$68.00	Outperform
11/19/2025	EDDRF eDreams ODIGEO	Downgrade	$4.00	Neutral
11/11/2025	RTMVY Rightmove	Upgrade	$13.00	Outperform
11/5/2025	ACXIF Acciona	Downgrade	$216.00	Neutral
11/3/2025	BP BP	Upgrade	$38.00	Outperform
10/29/2025	MPFRF Mapfre	Downgrade	$4.00	Neutral
10/29/2025	NOK Nokia	Downgrade	$7.00	Neutral
10/28/2025	GLPEY Galp Energia SGPS	Downgrade	$10.00	Outperform ➝ Neutral
10/27/2025	NRDXF Nordex	Downgrade	$41.00	Neutral
10/16/2025	ALPKF ALPEK	Upgrade	$1.00	Outperform
10/16/2025	MXCHY Orbia Advance	Upgrade	$2.00	Outperform
10/16/2025	BAK Braskem	Downgrade	$3.00	Neutral ➝ Underperform
9/29/2025	BNCZF Banco BPM	Initiated Coverage	$15.00	Neutral
9/25/2025	TSN Tyson Foods	Initiated Coverage	$66.00	Neutral
9/3/2025	SBGSY Schneider Electric	Upgrade	$59.00	Outperform
9/3/2025	SIEGY Siemens	Downgrade	$154.00	Neutral
8/29/2025	GPRK Geopark	Initiated Coverage	$8.00	Outperform
8/25/2025	NU NU	Upgrade	$18.00	Neutral
8/14/2025	JBS JBS	Initiated Coverage	$16.00	Neutral
7/11/2025	SHEL Shell	Downgrade	$76.00	Neutral
5/27/2025	AIQUY Air Liquide	Initiated Coverage	$38.00	Neutral
5/21/2025	STNE StoneCo	Upgrade	$17.00	Neutral ➝ Outperform
5/14/2025	TGS Transportadora De Gas Sa Ord B	Upgrade	$31.00	Outperform
5/6/2025	EFGSY Eiffage	Downgrade	$30.00	Neutral
3/5/2025	PPC Pilgrim's Pride	Initiated Coverage	$44.00	Neutral