Target price lowered for Hungary's OTP

J.P. Morgan has updated its model for OTP and lowered its target price slightly for the Hungarian banking stock.
  • J.P. Morgan has cut its target price for OTP to HUF 14,500 from HUF 14,700 previously, but the new TP is still 24% higher than OTP’s latest closing price on the Budapest Stock Exchange (BSE) on Friday.
  • Analysts’ consensus forecast at Reuters is HUF 11,992, which is merely 3% higher than OTP’s closing price on 25 January.
  • According to the latest research notes, there are 11 ‘Buy’, 1 ‘Hold’ and 2 ‘Sell’ recommendations for OTP.
  • OTP’s share price edged up 3% this year so far.

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