Credit Suisse sees Marfin Popular at EUR 9.3

…Bank of Cyprus among top picks of JP Morgan

 

Credit Suisse has commenced coverage on the shares of Marfin Popular Bank with a “neutral” bias and a price target of EUR 9.3 per share, compared to the recent price of EUR 8.10, indicating an upside potential of 15%.

Credit Suisse notes in their report dated February 27 that Marfin Popular is well placed to achieve its growth targets, placing particular emphasis on Group plans to raise EUR 5 bln in new capital for Marfin Investment Group.

 

Bank of Cyprus top picks of JP Morgan

Bank of Cyprus is among four top picks of JP Morgan included in the “What to buy and what to avoid” report on emerging markets. Piraeus Bank, which is reported to be in talks with Bank of Cyprus to form some sort of alliance ahead of the expiry of its tender bid for Marfin is also included in the JP Morgan report. Other banks singled out by JP Morgan analysts are Erste and Garanti Bank.