The Spanish lender's U.S.-listed shares are up 32% in 2023, on pace for their biggest annual gain since 2009 — when they rallied 73%. SAN YTD mountain SAN in 2023 Bank of America thinks the 166-year-old bank can build on its strong 2023 performance, saying it trades at a low relative valuation. Reale has a price target of $5.09 per share on Santander's U.S.-listed shares. Last month, Santander reported second-quarter net income and revenue that exceeded analyst expectations. On top of that, Reale said Santander has "de-risked its book, shifting its mix from subprime to prime clients.

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Persons: Wells, Goldman Sachs, Antonio Reale, …, Reale, America's Reale, Michael Bloom Organizations: Banco Santander, JPMorgan Chase, Citigroup, Bank of America, Santander, of America, U.S, America's Locations: Spanish, U.S, Wells Fargo, Santander, Europe, Spain, Brazil