JP Morgan ‘Bullish’ on Greek Assets – Overweight Recommendation on ASE

JP Morgan retains its positive outlook on the Athens Stock Exchange (ASE) estimating that despite any short-term weaknesses it presents a solid opportunity for investors to add to their portfolios. The bank maintains its “overweight” recommendation on ASE.

The bank cautions anyone expecting to acquire positions in Greece at low prices may be disappointed, as strong investment demand is evident, particularly in the demand for Greek assets.

Recent examples include the acquisition of a 9.9% stake in Alpha Bank by Unicredit and the oversubscription of the share percentage offered by the Financial Stability Fund to the National Bank of Greece.

JP Morgan’s confidence in the Greek economy is confirmed by the bank’s plan to organize a roadshow in both Athens and Istanbul, between April 15-19.

The bank is organizing investor visits to Athens and Istanbul from April 15 to April 19, signaling its confidence in the potential of these emerging markets for high-yield, low-risk investments.

While economic concerns loom over Turkey, its banking sector continues to thrive, offering attractive investment opportunities. Meanwhile, Greece, once considered a risky investment, is now emerging as a highly promising market.

JPMorgan’s initiative is expected to boost bilateral economic collaborations between the two countries.

The investor visit to Athens includes meetings with key players in the financial and energy sectors, as well as with government representatives. This reflects the growing interest in the Greek market, which has shown impressive returns. The Athens Stock Exchange recorded a 38% increase in 2023, underscoring the investment potential for 2024.

Source: tovima.com