Great run on BKIR. Trust everyone stayed on for the ride! Remember 17c and the 85% buyin! fantastic. More to come as we breech 25c and move towards first price target of 28.5c. Talk will turn now to end Feb update from management and we will see the resumption of dividend on 2016 results. Nothing to prevent them announcing the start and committing to a sustainable payout going forward. The negatives of September have been overcome: Huge pullback in pension writedown and with European yield curve on an upward trajectory (inflation finally breaking on the upside) huge boost to the capital levels and the income statement. If we can get the arch liberalist, Draghi fired by end January we can break 30c. May the Germans run him out of town. RIP you destroyer of economics! As an aside. ODEY Hedge Fund: 50% negative return in 2016. May the most of that be from their misguided, idiotic bet on shorting 175m BKIR shares. Let them not have covered their position yet and burn to death in the flame thrower as we head for 30c! RIH to all shorters!!
Its been a tough 2016 here, mid to high twenties is a fair come back sill a way to no word of dividends? yes i have to units vacant in CC dublin was let before way under market value now i cant increase while other risks and charges can increase i am capped ridiculous. less exposure in property 2017 will this have a negative impact on boi and the threat that the govt can meddle again in the future
cantor fitz News Bank of Ireland (BKIR) has been the 2nd best and best performing stock in the ISEQ Index and our Core Portfolio, respectively in the first week of 2017, up 11.5% in just two trading sessions. Positive sentiment has been broad based towards European financial stocks in 2017 with the Euro Stoxx 600 Bank Index being the best performing sub-component of Euro Stoxx 600. On the 9th December, we discussed “10 tailwinds which are benefitting Bank of Ireland’s share price” and the majority still hold true apart from the recent stabilisation in higher bond yields in Europe and a modest weakening in the pound since, with EURGBP moving from 83.8p to 85.6p.
Comment Bank of Ireland’s share price closed 2016 at 23.4c, marginally below our 12 month target price of 23.8c from our “Brexit Aftermath: Significant negativity reflected in the price” report issued in July 2016. We maintain our “Outperform” outlook on the stock, however we are moving our target price to “Under Review” as we update our financial forecasts and model to reflect year-end 2016 numbers. The bank is due to release FY16 results on the 8th March. From a technical standpoint, BKIR’s share price is trading within a welldefined upward sloping trend channel since October 2016 and we see a band of resistance between 27c – 27.4c which could lead to a period of consolidation given the sizeable rally seen over the past 3 months if achieved in the near term. 27.2c is the pre-Brexit referendum closing price. It has re-rated to exactly 1.0x FY16e Price/ Book, a slight premium to the broader Stoxx 600 Bank Index at 0.85x.
Good one. But, no need for miracle. Just time needed. More than likely(unless uk politicians do something stupid which is likely but I trust in Trump counterbalancing ) BOI will get close to .30 before the end of Feb 17
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