Resumed Buy X

SAN Banco Santander

Citigroup

Upgrades Eq-Weight Overweight X

SAN Banco Santander

Morgan Stanley

Upgrades Eq Weight Overweight X

SAN Banco Santander

Barclays

Initiated Equal Weight X

SAN Banco Santander

Barclays

Downgrades Buy Hold X

SAN Banco Santander

HSBC Securities

Upgrades Neutral Outperform X

SAN Banco Santander

Exane BNP Paribas

Upgrades Neutral Buy X

SAN Banco Santander

Citigroup

Upgrades Neutral Outperform X

SAN Banco Santander

Credit Suisse

Initiated Buy X

SAN Banco Santander

Goldman

Upgrades Hold Buy X

SAN Banco Santander

Jefferies

Resumed Neutral X

SAN Banco Santander

Citigroup

Downgrades Outperform Neutral X

SAN Banco Santander

Credit Suisse

Upgrades Neutral Outperform X

SAN Banco Santander

Credit Suisse

Upgrades Hold Buy X

SAN Banco Santander

HSBC Securities

Upgrades Neutral Buy X

SAN Banco Santander

UBS

Downgrades Buy Neutral X

SAN Banco Santander

UBS

Upgrades Sec Perform Outperform X

SAN Banco Santander

RBC Capital Mkts

Upgrades Mkt Perform Outperform X

SAN Banco Santander

Keefe Bruyette

SAN  Banco Santander, S.A. Sponsored ADR (Spain)

Banco Santander, SA is a retail and commercial bank. The Banks segments include Continental Europe, the United Kingdom, Latin America and the United States. The Continental Europe segment covers all businesses in the Continental Europe. The United Kingdom segment includes the businesses developed by various units and branches in the country. The Latin America segment embraces all its financial activities conducted through its banks and subsidiaries in the region. The United States segment includes the Intermediate Holding Company (IHC) and its subsidiaries Santander Bank, Banco Santander Puerto Rico, Santander Consumer USA, Banco Santander International, Santander Investment Securities, and the Santander branch in New York. The Company's commercial model satisfies the needs of all types of customers: individuals with various income levels.