Banco Santander (SAN) Upgraded to Buy: Here's What You Should Know

Core Viewpoint - Banco Santander (SAN) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system emphasizes the correlation between changes in earnings estimates and stock price movements, suggesting that upward revisions can lead to higher stock valuations [4][6]. - For the fiscal year ending December 2024, Banco Santander is projected to earn $0.83 per share, reflecting an 18.6% increase from the previous year, with a 2% rise in the Zacks Consensus Estimate over the past three months [8]. Zacks Rating System - The Zacks Rank system categorizes stocks into five groups based on earnings estimates, with a strong historical performance, where Zacks Rank 1 stocks have averaged a +25% annual return since 1988 [7]. - The upgrade of Banco Santander to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10].