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HSBC: PT for MPB at €10.1

14/09/2007 10:46
HSBC increased the PT for Marfin Popular Bank at €10.1 from €9.4 with a neutral recommendation.

In a report released on September 14, HSBC raised its 2007e, 2008e and 2009e recurring EPS estimates by 6%, 5.5% and 4% respectively to account for a stronger lending and deposit growth outlook and somewhat lower costs.

According to the analysts, “next potential catalyst for the stock is the pre-announced upgrade of MPB’s financial targets (for the 3rd time this year), after the release of Q3 2007 results in November”.