Optima Bank maintains a “buy” rating on the shares of four systemic banks: noting in its analysis that they also posted strong profits in the second quarter of 2024.
In terms of price targets, Optima Bank analysts give:
- The target price for National Bank is EUR 10.84.
- For the Piraeus price target €5.50.
- Alpha Bank’s price target is €2.10.
- For Eurobank price target €2.41.
As mentioned in the analysis of 4 system banks. further expansion was recorded for the RoaTBV index, liquidity is abundant, and asset quality and capital momentum remain positive.
Greek banks trade at 0.88x P/TBV based on 2024 estimates, i.e. at a 21% discount to EU banks, but Optima Bank estimates an average RoaTBV of 14.9% in 2024, which is slightly higher. than in EU banks and therefore believes they should trade on an equal footing.