What Alpha is looking for in Cyprus, the mass exodus to Avramar and Plan B for Cocomat on the Acropolis – Economic Post – 2024-02-20 20:48:40

· Week… Piraeus will be the next one.

· And the climate is more than positive, with those involved in the placement having expectations.

· Especially after the 2023 results, which were very well received.

· With very few exceptions, the target prices shown by foreigners are above 4 euros, with Axia and JP Morgan at 5 euros.

· Only Mediobanca and Deutsche Bank are cautious, giving target prices of €3.65 and €3.95 respectively, i.e. below the current one.

… and the recommendations for Alpha Bank

· Attention to the results of Alpha Bank is recommended by the analysts.

· And this is because it may not be on a completely comparable basis, as the contribution from the Romanian activities decreases.

· Against this background Jefferies recently cut its 2024 earnings estimate by 3%, but raised its price target to €2.30, from €2.25 previously.

· But from the looks of it, the bank seems to be turning with greater interest to the Cypriot market.

· Already, the administration was in the previous days on the island, and had important contacts there.

· The management’s priority, as we learn, is the further development of Wealth Management.

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Avramar is “flourishing” under the fear of the lockout…

· Many different scenarios are heard in the market for the future of Avramar.

· Converging information wants the creditor banks to look for a new strategic investor, who will clean it up and put it back on a growth track.

· A related mandate has reportedly been given to Deloitte for a long time, which as we learn has approached several investors to spy on their intentions.

· The possibility of selling the individual activities of the company, specifically the culture of fry, fish feed and breeding units, has also fallen on the table.

· Everything shows that no definitive decisions have been made on how the consolidation will proceed.

· However, what seems to be an agreement is the provision of interim financing of 20 million euros, to avoid the worst…

· In the meantime, we are informed that several non-top management executives are leaving the company.

· Uncertainty and job insecurity leads many workers to look elsewhere for housing…

· “The way things are going, soon there will be no salvageable item,” notes a person with knowledge of the case and calls on those involved to make their decisions immediately.

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“Green” in the demolition study of the Cocomat hotel on the Acropolis

· Actions by the decentralized administration for the partial demolition of the last two floors of the Cocomat hotel in Acropolis are in full progress.

· According to information, the fund of 600 thousand euros for carrying out the study was approved by the general accounting office of the State.

· The announcement to find the technical office that will undertake its drafting can now proceed.

· At the same time, within the week -unexpectedly- the answer of the Technical Chamber of Greece is expected as to whether a technical consultant will take over the project or not.

· This is an extremely complex and complex project, which has no precedent in the Greek reality and therefore requires the expertise of an experienced consultant.

· In any case, the decentralized administration has an alternative plan if the TEE denies responsibility…

· This concerns the approach of a domestic University, specialized in the specific field…

· Soon we will have news on the subject…