Bloomberg News

Polish Stocks Raised to ‘Modest’ Overweight at Bank of America

February 27, 2012

Bank of America Corp.’s Merrill Lynch raised its recommendation for Polish stocks to “modest” overweight from underweight in the Eastern Europe, Middle East and Africa region because of the country’s resilient economy, the bank said today.

Bank Pekao SA (PEO), Poland’s second-largest lender, Jeronimo Martins SGPS SA (JMT), the Portuguese operator of the Biedronka grocery chain, and KGHM Polska Miedz SA (KGH), a copper miner, were named as top picks, according to an e-mailed report.

“Poland is our preferred market for exposure to an improvement in the European sovereign environment,” Bank of America’s equity strategists including Michael Harris in London wrote.

To contact the reporter on this story: Piotr Skolimowski in Warsaw at pskolimowski@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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