UBS sees further upside for Eurobank after outlook upgrade

UBS has raised its price target for Eurobank to €5.10 from €4.90, maintaining its ‘buy’ recommendation after the lender delivered stronger-than-expected second-quarter results and upgraded its outlook, with Cyprus continuing to play a significant role in the group’s profitability.

The investment bank said the revised target implies upside potential of approximately 14.6 per cent, while an estimated dividend yield of 6.1 per cent brings the total prospective return to 20.7 per cent....