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

MS upped its TP for OTP by HUF 900 to HUF 19,900 per share, which offers a 15.2% upside potential over Tuesday's closing price (HUF 17,270) on the Budapest Stock Exchange (BSE). The giant US bank has also maintained its 'Hold' recommendation for the banking paper.

Citi has recently updated its fair price estimate for OTP, setting it to HUF 19,300, with a 'Buy' recommendation. Autonomous Research raised its TP for OTP for the second time this year in March to HUF 22,464 from HUF 21,058 previously. It's recommendation is also 'Buy'.

According to the database of Refinitiv, 10 of the 14 analysts covering OTP have a 'Buy' recommendation, while the remaining four have a 'Hold' rating. The average target price is HUF 18,206.7, 5.4% higher than yesterday's closing price.

OTP slipped 0.4% today, while it gained 8.9% this year.