UBS sees CaixaBank earnings growth as valuation premium narrows

Caixabank has hired Morgan Stanley to evaluate a potential acquisition of Cetelem’s Spanish and Portuguese consumer lending operations, according to Expansion. The deal, valued between €900 million and €1 billion, would expand Caixabank’s consumer lending business. BNP Paribas initiated the sale as part of a strategic refocusing effort. All parties declined to comment.

Caixabank SA stock rose 1.1% to €13.12 after UBS upgraded it to Buy with a €14.90 price target, citing its potential in a higher ECB rate environment. JPMorgan also raised its target to €14.20. The stock had declined 1.3% previously, and analysts expect strong Q3 2026 earnings.

Compass Therapeutics (NASDAQ:CMPX) published Phase 2/3 trial results for tovecimig in the Journal of Clinical Oncology. The study met primary and secondary endpoints, showing improved response rates and progression-free survival in advanced biliary tract cancer patients compared to paclitaxel alone. However, overall survival showed no significant difference, and adverse events were higher in the combination arm. Tovecimig remains investigational.

BeOne Medicines presented data at ESMO 2026 on three investigational cancer treatments. GPC3 x 4-1BB bispecific showed 36% ORR in liver cancer, PRMT5 inhibitor demonstrated 25.3% ORR in lung cancer, and CEA-targeting ADC achieved 56% ORR in high-CEA lung cancer. The company plans global trials for these treatments.

Compass Therapeutics (CMPX) reported positive Phase 2/3 results for tovecimig in biliary tract cancer, meeting primary and key secondary endpoints. ORR improved to 18.0% vs 5.3%, and PFS to 4.7 vs 2.6 months. Data was published in the Journal of Clinical Oncology and presented at ESMO. The safety profile was consistent with prior studies.

Celcuity reported VIKTORIA-1 subgroup data showing median PFS of 21.5 months for triplet therapy, 11.5 months for doublet, vs 9.1 months for alpelisib+fulvestrant in PIK3CA MT HR+/HER2- ABC without liver mets. TEAE discontinuations were lower for Celcuity's treatments.