National Bank of Greece (ADR) (NYSE:NBG): Upgraded to “Neutral” by Merrill Lynch


Dallas, Texas 05/16/2014 (FINANCIALSTRENDS) –National Bank of Greece (ADR) (NYSE:NBG)’s stock received an upgrade by equities research analysts at Merrill Lynch who upgraded the stock from an ‘underperform’ rating to a ‘neutral’ rating, in a research report issued recently.

Few other analysts have also commented on the shares of the company. In a research note, analysts at Bank of America also upgraded shares of the company from an ‘underperform’ rating to a ‘neutral’ rating. Other analysts at Deutsche Bank in a research note to investors downgraded shares of the company to a ‘buy’ rating. And finally in a research note to investor’s analysts at JPMorgan Chase & Co.upgraded shares of company from an ‘underweight’ rating to a ‘neutral’ rating.

Out of five investment analysts, one analyst has rated the stock with a ‘sell’ rating, there have given a ‘hold’ rating and one has issued a ‘buy’ rating to the company’s stock. The company has a consensus rating of ‘hold’.

S&P and TheStreet:

In a separate note, National Bank of Greece (ADR) (NYSE:NBG) also received an upgrade from Standard & Poor’s on Wednesday, May 14, 2014. S&P upgraded the National Bank from ‘CCC’ rating to a ‘CCC+’ rating. The short term rating for the National Bank was maintained at ‘C’ by S&P on the premise of stable outlook.

Equities research analysts at TheStreet maintains a ‘sell’ rating on the stock of National Bank of Greece (ADR) (NYSE:NBG) with a ratings score of ‘D’. Analysts at TheStreet believe that the stock is driven by number of weaknesses including its disappointing historical stock performance coupled by marginal growth in its earnings per share.

Stock Update:

Yesterday, the stock closed at $2.90, losing 16.18% from its previous close. The stock has delivered over 49% negative returns year to date and close to 78% negative returns over past 12 month period.

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