Davy Research

Bank of Ireland

Progress remains unfairly overlooked
Banks
Bank of Ireland

DAVY VIEW

Over the past few years, Bank of Ireland (BOI) has transformed its solvency position, building CET1 capital while reducing non-performing loans. It is now transforming its operating capability, which will structurally improve its operating efficiency. We believe the market has digested the cost of transformation but is not currently incorporating any of the resultant benefits. We reiterate our ‘Outperform’ rating with a price target of €9.20.

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  • RATINGS AND PRICE CORRECT AT TIME OF ISSUE


  • Bank of Ireland

    Closing Price: 683c

  • RATING 11/03/13

  • PREVIOUS RATING 14/08/12

    Neutral

Analyst(S)

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