KBW ups Marfin Popular target to EUR 12

Keefe, Bruyette & Woods (KBW) have increased their price target on the share price of Marfin Popular Bank (CPB) from EUR 10 to EUR 12 per share with an “outperform” recoemendation following the higher guidance announced by Management after the successful completion of the EUR 5.19 bln in new capital raised by Marfin Investment Group (MIG).

MPB stands to gain 1% in advisory fees on the net book value of MIG.