Foreign Analysts Give Votes of Confidence to Greek Banks

Foreign analysts have recently expressed optimism regarding Greek bank stocks following the green light from European authorities for dividend distributions. This move is seen as a key driver for potential value appreciation in the sector, prompting a favorable reassessment by experts.

Expectations are high for updates from management, especially after Piraeus Bank’s recent disclosure, indicating a promising trajectory for performance this year based on a solid first quarter.

Axia considers the dividend approval as a crucial step towards the normalization of Greek banks post the 2010-2015 crisis. They maintain a bullish stance, projecting further growth and setting target prices for key players in the market.

Similarly, Deutsche Bank has adjusted its target prices upwards for several Greek banks, affirming a buy recommendation across the board, particularly after the upgrade for Piraeus Bank.

Eurobank Equities views the dividend approval as a milestone marking the end of a 16-year hiatus, potentially initiating a relief rally. They emphasize Piraeus Bank as a top choice due to its consistent execution and attractive risk/reward profile, adjusting their target price accordingly.

Furthermore, Goldman Sachs, JP Morgan, and Jefferies have echoed positive sentiments, considering the dividend approvals as catalysts for unlocking value in Greek bank stocks. They underscore the significance of this development, which was anticipated but nonetheless marks a significant milestone for the sector’s recovery.