AlphaValue/Baader Europe Ups Forecasts for BBVA on 'Stronger' Top-line Momentum

12:42 AM EST, 11/03/2026 (MT Newswires) -- AlphaValue/Baader Europe lifts its earnings estimates for Banco Bilbao Vizcaya Argentaria (BBVA.MC), highlighting the Spanish lender's top-line performance after its nine-month earnings report. "As announced in our post-release comments, we have upgraded our forecasts, driven by stronger top-line momentum. Hence, we have upgraded our revenue projections by 6% and 9% in 2026 and 2027 respectively, largely driven by non-interest income (+8% and +10% respectively). This stronger top-line momentum is mitigated by higher costs (+7% and +10% respectively) and loan impairments (+4% and +8% respectively)," the research firm said Monday. Analysts also upgraded their EPS projections for full-year 2026 and 2027 to 2.10 euros and 2.47 euros, respectively, from 1.97 euros and 2.25 euros. For the nine months ended Sept. 30, BBVA's net attributable profit climbed 13.6% year over year to 9.07 billion euros, while operating income was up 18.6% to 19.90 billion euros. In the third quarter, the bank's net attributable profit rose to 3.02 billion euros from 2.53 billion euros in the same year-ago period, while operating income stood at 6.75 billion euros versus 5.53 billion euros earlier. Against this backdrop, AlphaValue/Baader Europe upgraded the stock's rating to add from reduce, with a price target of 24.40 euros.