Equity
ANALYST VIEW - Raiffeisen raises target price for Hungary's OTP
- Raiffeisen has raised its target price for OTP to HUF 13,200 from HUF 12,300 previously. The rating remains ‘Hold’. The new TP offers a 3.3% upside potential over OTP’s closing price on the Budapest Stock Exchange (BSE) on Monday.
- Analysts are upbeat regarding OTP. There are 10 ‘Buy’, 2 ‘Hold’ and 2 ‘Sell’ recommendations for OTP, according to the Reuters database.
- The average TP is HUF 13,119 currently, which is 2.7% higher than yesterday’s closing price.
- OTP’s share price rose to a new all-time high of HUF 13,250 in mid-April, and then Portfolio warned that several indicators suggested that OTP was overbought and a correction was on the cards. The share price has been slowly dropping since then, and the share price closed at HUF 12,780 on Monday, but it is still 13% higher than at the end of 2018.
