ANALYST VIEW - Hungary's OTP gets highest target price yet
OTP received another positive assessment with JP Morgan having revised its outlook on the banking stock. The US investment bank
set a target price of HUF 33,500 for the stock,
which is HUF 3,700 higher than the previous TP.
According to JPMorgan's analysis, the bank's share price could rise a further 20% in the next year, from its current level near its historic high. Given the significant upside potential, the investment bank maintains its 'Buy' recommendation for the stock.
The target price set by the major US bank is currently the highest on the market. However, the number of analysts forecasting a price above HUF 30,000 for OTP shares is steadily growing.
The former most optimistic analyst house, Autonomous Research, has a target price of HUF 33,225, while HSBC estimates the fair share price at HUF 32,200, Trigon Dom Maklerski at HUF 31,369 and Concorde at HUF 30,955 over a one-year time horizon.
The average analyst target price in the LSEG database is HUF 27,200 and the median is HUF 28,000. Of the 14 analysts following OTP, 10 have a buy recommendation, 3 have a hold recommendation and 1 has a sell recommendation.
