2022 was a stellar year to be invested in Irish banks. The rate debate has now shifted to peak rates and overtightening, which at face value is not constructive but may create near-term upside to forecasts. However, for the substantial re-rating that has occurred, we do not believe distribution capability is valued appropriately. In our view, this will become a far greater focus for 2023 together with growth opportunities presented by market consolidation – which we also believe is underappreciated. We maintain our ‘Outperform’ ratings and continue to see material upside across all three banks.
You can email us with your enquiry by completing the form below.
Warning: The value of your investment may go down as well as up and you may lose some or all of the money you invest. Past performance is not a reliable guide to future performance. Investments denominated in a currency other than your base currency may be affected by changes in currency exchange rates.
Davy Select is designed for investors who are comfortable making their own investment decisions, without financial advice; this is known as “execution-only”. Execution-Only is not for everyone. You should ensure that you fully understand any investment and the associated risks before making a decision to invest. Alternatively, Davy can arrange for you to open a different type of account, where we can advise you in relation to investment decisions, or where we can manage investments on your behalf.
This website does not constitute investment advice as it does not take into account the investment objectives, knowledge and experience or financial situation of any particular person or persons. Prospective investors are advised to make their own assessment of the information contained herein and obtain professional advice suitable to their own individual circumstances.
J & E Davy Unlimited Company, trading as Davy and Davy Select, is regulated by the Central Bank of Ireland.