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Deutsche Bank Upgrades National Bank of Greece (NBG) to Buy

June 5, 2014 9:35 AM EDT
Get Alerts NBG Hot Sheet
Price: $0.16 --0%

Rating Summary:
    4 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 20 | Down: 14 | New: 22
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Deutsche Bank upgraded National Bank of Greece (NYSE: NBG) from Hold to Buy.

Analyst Rahul Shah said, "We forecast revenue growth of 10% p.a. and pre-provision profit growth of 27% p.a. to 2018. ROA should improve to 1.25% in 2018, when ROTE is forecast to reach 16.0%. NBG has superior loan quality relative to its local peers, and also benefits from lower funding costs. However, these characteristics also suggest the bank may be less geared than its peers to a macro turnaround in Greece, which could drive bank funding costs down towards Eurozone average levels, and could also result in provisions recoveries as loan quality improves. Nevertheless, with significant upside to our target price, we rate the stock a Buy."

For an analyst ratings summary and ratings history on National Bank of Greece click here. For more ratings news on National Bank of Greece click here.

Shares of National Bank of Greece closed at $3.62 yesterday.



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