Citi lifts Alpha Bank forecast as profits set to top €1bn

Citi has raised its target price for Alpha Bank to €5.30 from €4.70 following the Greek lender’s strong second-quarter results, while retaining its buy recommendation for the shares.

Based on Alpha Bank’s closing share price of €4.55 on August 7, the revised target implies 16.5 per cent upside, which rises to a total potential return of 19.1 per cent when factoring in the expected 2.6 per cent dividend yield, according to the investment bank’s report, the findings of which were shared by Greek...