Analysts covering the Bank of Cyprus have significantly raised their price targets following the release of the bank’s preliminary financial results for 2024. All recent revisions indicate a more optimistic outlook compared to previous estimates. A key factor driving these upward adjustments is the bank’s updated profit distribution policy. In its preliminary results announcement, the […]
Following the release of Bank of Cyprus's preliminary 2024 financial results and an improved profit distribution policy for 2025-2027 (50-70%), analysts have significantly raised their price targets for the stock, despite a projected decline in net profits for 2025. Keefe, Bruyette & Woods, Euroxx Securities, and Deutsche Bank set targets of €7.29 and €7.10, respectively, while Piraeus Bank and Wood & Company offered more conservative projections of €6.20 and €5.83. The Bank of Cyprus is also continuing its share buyback program, purchasing 237,903 ordinary shares between March 7-13, 2025, as part of a €30 million allocation.
