Equities research firm Auerbach Greyson published an investment report on the National Bank of Greece (ADR) (NYSE:NBG) last week. AG analyst Nick Koskoletos maintains his Hold rating on the stock, but noted several positive developments for BOG in upping his target price from $3 to $3.50.
National Bank of Greece (ADR) (NYSE:NBG) is down about 10% in active trading today, dropping to around $4.70 per share as of 9:40 AM EDT.
Bank of Greece stress test
ValueWalk's Raul Panganiban with Maurits Pot, Founder and CEO of Dawn Global. Before this he was Partner at Kingsway Capital, a frontier market specialist with over 2 billion AUM. In the interview, we discuss his approach to investing and why investors should look into frontier and emerging markets. Q2 2021 hedge fund letters, conferences and Read More
Some media sources are suggesting that the National Bank of Greece (ADR) (NYSE:NBG) is actually planning 14 separate initiatives to come into compliance with the new regulatory standards. Sources say the bank regulator wants to see the plans by mid-April, while the required actions can be phased in over a reasonable period of time.
The AG report suggests that the success of the BOG’s plan depends on how much time the regulator gives them for implementation. “We feel the time allotment regarding the implementation is key to the successful outcome of management’s targeted initiatives.”
Higher fee generation and improved operations reason for increase in price target
Koskoletos highlights higher-than-anticipated fee generation and generally improved operational margins as the primary reason he upped his price target on National Bank of Greece (ADR) (NYSE:NBG from $3 to $3.50).
On a related note, German Chancellor Angela Merkel is visiting Athens today. Political analysts have commented that this trip is to show support to the Greek government and its ongoing restructuring efforts. The Greek PM is also expected to request a more detailed timetable for the disbursement of Greece’s debt relief funds during their discussions.