ECONOMY

Share price targets on banks rise

Investment bank Goldman Sachs increased its price target on three of Greece’s leading banks yesterday. Goldman Sachs increased its price target on National Bank (NBG), the country’s largest lender, to 17.50 euros from 14 euros previously and placed a neutral rating on the stock, Reuters reported. NBG shares yesterday closed up 1.95 percent at 17.28 euros. Shares in Greek banks have added almost 29 percent in the last month, outperforming a 16 percent rise on the Athens bourse’s benchmark general index, on expectations that exposure to Southeastern European markets may not be as harmful to lenders’ balance sheets as initially thought. Goldman Sachs also increased its price target on Alpha Bank, Greece’s third-largest lender, to 8.90 euros from 5.60 euros previously, and also had a neutral rating on the stock. Lastly, the price target on ATEbank was increased to 1.10 euros from 1 euro previously and the stock was given a sell rating.