JP Morgan for Greek Banks: New Target Prices up to €20.70 and 30% Upside Margins
6 Articles
6 Articles
The new target price for Eurobank is set at 6.10 euros, with an upside margin of approximately 30%, while for Piraeus at 13.70 euros, with a margin of 28%, for Alpha Bank at 5.80 euros, indicating a margin of 21%, while for National Bank at 20.70 euros, with a margin of approximately 18%-19%.
While the rise of banking stocks on the Athens Stock Exchange continues with small "reversals", JP Morgan raises its target prices.
Greek banks are entering a new phase of growth, according to JP Morgan. The American bank is raising its target prices for all four systemic banks, while seeing a 19% to 30% upside for their shares. JP Morgan is targeting 5.80 euros for Alpha Bank, up from 4.40 euros previously. At the same time, it is raising Eurobank's target to 6.10 euros, up from 4.40 euros. For Piraeus, it is setting a target of 13.70 euros, up from 10.20 euros. Finally, it…
JP Morgan sees upside potential of 19% to 30% for the four systemic banks, maintaining an overweight recommendation for all of them and highlighting Eurobank and Piraeus Bank as top picks.
JP Morgan maintains a positive recommendation for all four systemic banks, with target prices implying upside margins of 18%-30%, while singling out Eurobank and Piraeus Bank.
They have entered a new phase of growth and convergence with European banks, he points out. "Greek banks deserve your attention," is the message he sends.
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