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GS increases banks’ TPs

12/05/2009 12:57
In its report dated May 12, 2009 under the title “Banks begin their path towards steady state”, Goldman Sachs revised upwards the TPs of eight Greek and Cypriot banks. This is the first upward revision since late 2007.

GS increased the TP of Bank of Cyprus to €3.6 from €2.6 (neutral) and the TP of Marfin to €2.3 from €1.8 (neutral). On the other hand, it reduced the TP of Hellenic Bank to €1.1 from €1.2 (neutral).

Goldman Sachs also increased the TP of Piraeus Bank to €5.9 from €4.3% (sell), of National Bank to €17.5 from €14 (neutral), of the Postal Savings Bank to €5 from €4.3 (neutral), of Eurobank to €8.5 from €4.8 (neutral), of Alpha Bank to €8.9 from €5.6 (neutral) and of Agricultural Bank to €1.1 from €1 (sell).