Commentary

Morgan Stanley has confirmed its ‘Underweight’ rating on Hungary’s OTP Bank, but slashed its target price to HUF 4,500 from HUF 5,900 previously. In Morgan Stanely’s view, funding... 

The short-term outlook of fund managers polled every month by Portfolio.hu has not improve in merit on the forint since our latest poll in early December 2010. They expect to see the Hungarian currency... 

Erste Bank has on Thursday downgraded Hungary’s Magyar Telekom to ‘Hold’ from Accumulate, while reducing the target price to HUF 720 from HUF 770, after taking its lower estimates into... 

Morgan Stanley’s first target price for Hungarian pharmaceutical Egis is a hulking HUF 27,400 per share. The analysts have evaluated Richter stocks at HUF 37,375. Morgan Stanley has begun tracking... 

While sentiment has been fairly good so far, the news from Greece sent markets nose-diving shortly. Also, markets were already reaching somewhat lofty levels and a reason for profit-taking should have... 

Hungarian oil and gas group MOL has made a “promising" discovery in the Akri-Bijeel oil block in the Kurdistan region of northern Iraq. Results are under evaluation and drilling is taking place to... 

Hungary’s forint may strengthen against Poland’s zloty as rising inflation in Hungary damps expectations of interest rate cuts, BNP Paribas said on Friday. The HUF is likely to gain to 67... 

Erste Bank has on Wednesday lowered its target price for Hungary’s Danubius to HUF 3,400 from HUF 3,650, while it has maintained its ‘Hold’ recommendation. “With the weak financial... 

Raiffeisen has raised its target price for Hungarian fuels group MOL to HUF 18,355 from HUF 18,191 previously, while it maintained its ‘Hold’ recommendation unchanged. Raiffeisen has not... 

Geothermal developer PannErgy is the only Hungarian company that made it to Erste Bank’s Top Picks, with HUF 1,228 target price, an upside of over 60%. While Erste’s economists still believe... 

(Adds comment by Capital Economics, Goldman Sachs, Wood & Co. on page 4) Hungary’s central bank (NBH) has cut its key policy rate by 25 basis points to 6.00% on Monday, in line with the market’s... 

Hungary’s forint may gain as much as 10% versus the euro in the first half of 2010 as Hungarian and Polish assets reach a “sweet spot," said Benoit Anne, head of currency and debt strategy... 

Bank of America-Merrill Lynch has raised its target price for Hungary’s OTP to HUF 6,950 from HUF 6,190. The rating on the stock was left unchanged at ‘Neutral’. BofA-ML last upgraded... 

Goldman Sachs has revised its forecast on the Hungarian forint, expecting it to be weaker in three months than it forecasted previously. For the longer term, however, it expects a slightly stronger HUF... 

In the business years from 2010, tasks related to local business tax in Hungary will fall within the competence of the state Tax Authority (APEH), and taxpayers will have to submit local business tax returns... 

Goldman Sachs has on Wednesday raised its target price for Hungary’s MOL to HUF 18,500 from HUF 17,400. Goldman Sachs raised its target price sharply for MOL to HUF 17,400 from HUF 14,300 on 25... 

Raiffeisen Bank has raised the target price on Hungary’s MOL from 15,300 to 18,191 while changing its recommendation from “Buy" to “Hold". “Waiting for a more visible mid-term... 

(Adds details) Citigroup has upgraded Hungary’s OTP bank with a single swoop to ‘Buy’ from ‘Sell’ and sharply raised its target price to HUF 7,870 from HUF 4,224. Citi... 

Under Act LXXVII of 2009 on amendments to certain acts on the system of contributions to public revenues, the special tax payable by business entities will be abolished in Hungary from 1 January 2010.... 

(Adds details) Bank of America/Merrill Lynch have raised their target price for Hungary’s OTP to HFU 6,190 from HFU 5,900 previously, but maintained their ‘Neutral’ rating on the stock....