Greece is now considered a “success story” in the international economic environment, having made a dynamic return to the international economic scene, while one after another international investment houses are “voting” for Greece and Greek stocks for 2026.

Bank of America singles out nine Greek stocks for which it gives a “buy” recommendation.

In the banking sector, Ethniki, Piraeus, Eurobank, and Alpha Bank are recording increased participation in the portfolios of international investors. He also singles out the shares of Metlen, OPAP, Jumbo, OTE, and PPC.

JP Morgan places the four systemic banks – National Bank, Eurobank, Piraeus, and Alpha Bank – as well as PPC, among its top picks, while noting that the utilities and banking sectors are its favourites in Greece. JP Morgan places Piraeus among the top 10 stocks in the emerging Eastern, Central Europe and Middle East (CEEMEA).

International house Wood and Company also ranks the Greek stock market among the most attractive markets, despite the rise that has preceded The Greek market remains central to Wood’s dividend strategy for 2026, not because it offers the highest nominal yields in Europe, Middle East and Africa (EMEA).

Wood identifies strong dividend stories in the Greek market. Specifically, the shares of Aegean Airlines (target price 16 euros), HELLENiQ Energy ( 8.8 euros), Motor Oil ( 31.5 euros), OTE ( 20.3 euros) andTrade Estates (1.7 euros).Wood also places Bank of Cyprus (buy, target price 9.34 euros) in its options.

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Banks

The banking sector remains the focus of international investment houses for 2026, despite the high gains recorded in 2025.

Despite the strong rise in bank stocks, valuations remain attractive, according to UBS, especially in the context of European banks.

UBS remains a “buyer” and gives a price target of 4.30 euros for Alpha Bank, 4.20 euros for Eurobank and 15.40 euros for Ethniki.

Piraeus shares are included in UBS’s top 2026 holdings and it gives a target price of 9.20 euros.

US investment bank JP Morgan remains bullish on Greek banks and notes that Greek banks are still around 15% cheaper than European banks.

Looking ahead to December 2026, it gives a target price of €4.10 for Alpha Bank, €4.10 also for Eurobank, €9.00 for Piraeus and €15 for Ethniki.

The Greek banking sector is in a new regime of sustainable organic growth, which has not been incorporated into its share valuations, according to Bank of America, and highlights that Greece is now one of the few banking sectors in Europe where profitability, capital quality, and distributions are moving upwards at the same time.

BofA revises its target prices upwards: Eurobank at 4.86 euros, Piraeus at 8.85 euros, Alpha Bank at 4.12 euros, and Ethniki at 13.88 euros.

US bank Goldman Sachs says Greek banks have some of the most attractive narratives in Europe and gives a target price: Alpha Bank at 4.20 euros, Ethnik at 15.10 euros, Piraeus at 8.00 euros, and Eurobank at 3.50 euros.

It expects the sector to continue to show strong profitability rates, low risk costs, and healthy credit expansion, noting that potential acquisitions by banks – not included in current valuations – could provide additional upside

At EUR4.15, Jefferies gives a target price for Alpha Bank, highlighting that it remains one of the most attractive growth stories in the sector, supported by high organic profitability, revenue expansion beyond the traditional balance sheet, and significant capital strengthening, while showing significant progress in diversifying revenue sources.

US-based Jefferies raises its target price for Piraeus shares to EUR 8.60, due to the integration of Ethnikis Insurance.

Metlen

Citi places Metlen at the heart of the European industry for 2026 and within its top three mid-cap picks. It gives a “buy” recommendation and a base target price of EUR 52. The US investment bank refers to a company that has now transcended the narrow boundaries of the aluminium sector and is evolving into a modern industrial group, with parallel growth drivers in energy, EPC projects, circular metallurgy, and the defence industry.

Bank of America raises its target price on Metlen to 64 euros and underlines that it has significant growth potential in both the metals and energy sectors.

Morgan Stanley says Metlen remains “misunderstoodly cheap” in terms of its prospects, giving it a target price of €66, highlighting that it retains a clear lead as one of the most diversified and resilient growth stories in the European energy and metals market.

PPC

Citi, JP Morgan, and Axia give PPC a “vote of confidence” as they see the company entering a new cycle of growth, with a greater focus on renewables, networks, and investments that will shape the energy landscape of the next decade, while underlining that the 10 billion investment programme is redefining the group’s prospects.

Citi sets a target price of 19 euros, JP Morgan gives a target price of 18.50 euros, and AXIA gives a target price of 22.60 euros.

Goldman Sachs upgrades PPC shares and gives a target price of 20.5 euros and estimates that the 10 billion investment program will fuel double-digit EBITDA and net profit growth until 2028.

The stock’s P/E is at 13.1 for 2025 and falls to 9.6 for 2026 and 8.6 for 2027, with earnings per share up 35.9% for 2026 and 11.2% for 2027. The dividend yield will rise from 3.5% in 2025 to 5.9% in 2027

OTE

A “new OTE” is here, notes Morgan Stanley, giving OTE’s stock a target price of EUR 20 and an “Overweight” recommendation.

It describes OTE as a “pure Greek telecom player”, having fully divested from foreign investments to focus exclusively on the domestic market.

Deutsche Bank sets its target price for OTE at 21 euros with a “buy” recommendation. It points out that it has exonerated itself from its loss-making business in Romania, maintains negligible net debt, and continues to return almost 100% of annual free cash flow to shareholders. Coca-Cola HBC

In the drinks market, Deutsche Bank singles out only a handful of companies as truly quality investment cases for 2026, and Coca-Cola HBC tops the list.

According to the firm, CCH has the best combination of strong historical performance, low-risk valuations, and an attractive valuation, making it one of the top picks for the new year, and the target price for the stock is placed at EUR 51.04.

Morgan Stanley maintains a positive stance on Coca-Cola HBC and places it among the most resilient European sector options in an environment where consumption pressures continue to impact the European beverage sector. It reiterates an overweight recommendation on Coca-Cola HBC’s stock, with a target price of €50.