Green shoots

  • Sectors : Banks
  • Companies : permanent tsb Group | AIB Group | Bank of Ireland


Ratings and price correct at time of issue

Company Rating Date Previous Rating Date Closing Price
AIB Group OUTPERFORM 23/01/19 Neutral 14/08/18 155c
Bank of Ireland OUTPERFORM 11/03/13 Neutral 14/08/12 333c
permanent tsb Group OUTPERFORM 04/02/21 Neutral 06/03/19 80.4c


Positive catalysts have been largely overshadowed in the Irish banking market for some time – we believe this is about to change as the economy emerges from lockdown, certainty is provided on Brexit and further home buying support is introduced via a Shared Equity Scheme. In addition, the NatWest review of Ulster Bank Ireland presents further opportunities. Against this backdrop, we upgrade permanent tsb Group (PTSB) to ‘Outperform’ (price target: 125c from 75c) and reiterate our ‘Outperform’ ratings on Bank of Ireland (430c from 350c) and AIB (213c, unchanged).

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Feb 3 2021, 06:30 GMT