Erste Rises to 4-Month High on Goldman Sachs Price Upgrade
February 08, 2012, 4:42 PM ESTBy Andras Gergely
(Updates with closing prices from second paragraph.)
Feb. 8 (Bloomberg) -- Erste Group Bank AG rose to the highest in four months in Prague trading after Goldman Sachs Group Inc. raised its target price for the lender’s Vienna- listed shares.
The stock rose 4.7 percent to 487 koruna by the end of trading in Prague, the highest closing level since Oct. 7. The benchmark PX gauge, in which Erste has a 22 percent weighting, advanced 2.2 percent to 1,024.2.
Goldman increased its target price for the Vienna shares to 30 euros from 23 euros, according to a research report today, which cited Erste as one of the “top picks” among euro area lenders.
--Editors: Linda Shen, Peter Branton
To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net
To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net
