ANALYST VIEW - Morgan Stanley slashes target price for Hungary's OTP

• The new target price is HUF 9,050, which is considerably below the previous TP of HUF 13,300. The new TP offers an 8% upside potential compared to OTP's closing price on Thursday.
• Morgan Stanley has also downgraded the stock to 'Underweight' which corresponds to a 'Sell' recommendation.
• According to Refinitiv's data base, the new TP is by far the lowest of any given by analysts covering OTP. The closest one is HUF 12,000 by Erste, which was updated on 7 June.
• The average target price is currently HUF 14,073.56, which is 68% higher than yesterday's closing price on the Budapest Stock Exchange (BSE).
• There are currently 9 'Buy', 2 'Hold' and 1 'Sell' ('Underweight') recommendation for OTP.

OTP has been under serious pressure this year, with its share price practically halved after a 49% plummet. There are no signs of a turnaround, either.

Cover photo: Portfolio