Syriza absolute majority seems difficult
This flash note calculates the relevant MP seats as per the latest four polls – we present our calculations below and conclude it seems difficult for Syriza to … access this note contact@researchgreece.com
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Jumbo’s mixed 2Q15 trading
Weak Greece vs. better Romania and Bulgaria; no room for upgrades; in 2Q15 group sales grew 5.7% yoy which compares to 11% in 1Q15; we calculate Greek LfL sales growth at … to access this note contact@researchgreece.com
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Greek politics – some thoughts
With this flash note we highlight some of the difference (s) on economic policies for the two main parties in a pre-election era. For New Democracy we go back three and half years when Greece was in a primary deficit; for Syriza we go back 3 months – to access this note contact@researchgreece.com
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Greece – The next two…to twelve months
We think it is extremely difficult to discount the medium term; the next two months can be extremely volatile in light of a potential parliamentary election. The first presidential vote count is tomorrow; politics will drive the market/economy in the short term – for a change. During the Greek crisis it has been the economy…
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Greek Banks – Cutting Estimates & Target prices – Upgrade NBG to OWN IT
We cut our 2016E net income by 18% driven by Greek NII; sector trades 0.67x TBV 2016E and 6.2x P/E following recent sell-off, on 10.8% RoTE. We upgrade NBG on valuation grounds (PT at E2.5); superior PPP and implied RoTE; asset quality/coverage capacity; uncovered NPLs at 93% of TE (lowest among peers); biggest upside to…