AXIA Ventures Group recommends a “purchase” with a target price of 1.20 euros for the share of Eurobank, with its analysts, Jonas S. Floriani and Argyrios Gkonis noting, among other things, that the results announced by the bank are clear and give investors a glimpse into the future shape of the bank’s financial data, while also welcoming management’s comments on the possibility of starting discussions in early 2022 with the ECB on the prospect of dividend distribution, as it could cause positive adjustments to the expectations of the market regarding the valuation of the group.
For its part, JP Morgan maintains the recommendation of “overweight” with a target price of 1.10 euros for the share of Eurobank, after the strong, as the agency characterized them, results of the second quarter of 2021.
According to JP Morgan, the share of Eurobank trades 0.54 times the book value for 2022, with a ROTE index at 9% based on the estimates of 2023, while with a real estate portfolio of 1.4 billion euros, the stock trades compared to a 28% discount.
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