Assessing the bankers
A CA IB report noted that BRE's share price has outperformed other Polish banks since it announced fourth-quarter results. Management promised a turnaround in its business following a fourth quarter loss, and says the bank could drop out of the blue-chip WIG 20 index.
"At the same time, Pekao's share price has lost four percent, underperforming the banking index, despite showing pretty healthy growth of core earnings in the fourth quarter of 2004," the CA IB document said.
Last Friday BRE shares closed at zł.124, just off CA IB's year-end target price of zł.126, while Pekao ended the day at zł.137, versus a CA IB target of zł.156. (Reuters)
J.T.
"At the same time, Pekao's share price has lost four percent, underperforming the banking index, despite showing pretty healthy growth of core earnings in the fourth quarter of 2004," the CA IB document said.
Last Friday BRE shares closed at zł.124, just off CA IB's year-end target price of zł.126, while Pekao ended the day at zł.137, versus a CA IB target of zł.156. (Reuters)
J.T.
