Santander rises after record Q2 net profit, outlook raise
** Shares of Banco Santander SAN.MC rise 1.7% after its second-quarter net profit rose 20% year-on-year driven by performance at its retail business in Europe
** Santander also upgraded its revenue growth outlook to high-single digit revenue growth from mid-single digit and its ROTE target to above 16% for 2024 from around 16%
** "Given the solid delivery on CET1 and upgraded outlook guidance, we would expect a positive reaction to these results" says JP Morgan analyst
** Santander booked a record quarterly net profit of 3.21 billion euros ($3.48 billion), in line with forecasts by analysts polled by Reuters
** Including today's rise the stock has gained 22.93 % YTD
Reporting by Joao Manuel Mauricio
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