National Bank of Greece (ADR) (NYSE:NBG) sports an improved capital position following its equity issuance and capital measures, notes Paul Formanko of JP Morgan.
The JP Morgan Cazenove analyst upgraded NBG to Overweight from Neutral and pegged the price target at € 2.85.
National Bank Of Greece: Improved capital position
The JP Morgan analyst strikes a positive note on National Bank of Greece (ADR) (NYSE:NBG) thanks to various positive factors. For instance, the analyst notes National Bank of Greece’s capital position is improving post €2.5 billion equity issuance and capital measures involve €1.04 billion and with the bank’s pro-forma YE13 B3 CT1 of 11.7%. The JP Morgan analyst notes positive macro trends such as IMF re-affirming its 2.9% growth 15E would support...
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