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Feb 3 2021, 06:30 GMT
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).
Feb 3 2021, 06:30 GMT