reports
- Research Team
WOOD Morning (16 February)
HEADLINES: * Piraeus Port Authority: the turning of the tide (BUY - initiation of coverage) * Polish Furniture Market: time to turn the tables (Pfleiderer stays BUY, Forte downgraded to HOLD) * Athens Exchange Group: look for better entry points (stays HOLD) * EME Strategy: Polish pension reform - ECP bill draft * Magnit: Mr. Galitskiy leaving Magnit, at only a 3% premium to the market price NEGATIVE * Transelectrica: loss in the quarter higher than expected NEGATIVE * D...
GHG GEORGIA HEALTHCARE GROUP
CAR INTER CARS S.A.
5M71 MAGNIT PJSC SPONSORED GDR REGS
TELEC LN O2 CZECH REPUBLIC
TEL C.N.T.E.E. TRANSELECTRICA
MOL HB MOL
PPA GA PIRAEUS PORT AUTHORITY
TCELL TI TURKCELL
WABERERS HB WABERER'S INTERNATIONAL
PFL PW PFLEIDERER
DOC DO&CO
FTE FORTE
- Alex Boulougouris
- Fani Tzioukalia
Piraeus Port Authority: The turning of the tide (BUY - initiation of c...
We initiate coverage of Piraeus Port Authority (PPA) with a BUY rating and a 12M price target (PT) of EUR 24, offering 44% upside potential vs. the current price. Located in Athens, PPA is the largest port in the Mediterranean, in terms of container TEU capacity, and the nearest hub of the marine transport corridors among Asia and Europe via the Suez Canal. We like PPA for its: recent privatisation; earnings growth potentials in its container and cruise business; expansion plans, strong balance ...
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