Bank Of Montreal Has A 3.4% Stake In Repsol

Repsol's bet on alternative energiesRepsol's offshore platform

Bank of Montreal informed the CNMV on Monday that it holds a total of 3.467% of the voting rights of Repsol (REP). However, it does not specify whether this is in its own name or in the name of third parties, nor the average acquisition price. This stake would make it the fifth largest shareholder after Sacyr, with 8.2%, JP Morgan with 6.8%, BlackRock with 5% and Amundi with 4.5%.

According to Bankinter analysts, although there are no details on the average price of this stake, “the stock’s performance over the year (+25.8%) leaves somewhat more limited potential for our valuation (+11.7%). We reiterate our favourable view on the company based on the strategy of increasing its presence in the renewable segment, a balance sheet with controlled debt levels and an attractive dividend yield. Repsol: Target Price: 11.60 euros; Close: 10.38 euros, Var. 2021: +25.8%

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