Euroxx sees MPB share price at EUR 10 per share

Euroxx Securities, a member of the ASE and a remote member of the CSE commenced coverage of the Marfin Popular Bank shares with a price target of EUR 10 per share and an “overweight” recommendation, in a research note dated January 30, 2007.

The price target implies a 20% capital appreciation target considering that the share price was at EUR 8.30 when the recommendation was released. Euroxx expects MPB to boost net profits by an annualized 33% until 2009, above the Bank’s own 32.1% annual growth in net profits by 2009 as stated in its 3-year Strategic Plan discussed at Board level on February 1, 2007.