Goldman Sachs projects the Athens Stock Exchange’s (ATHEX) general index is set to reach 1,550 points by the end of 2024, a nearly 15% gain from current levels, reaffirming its positive outlook on the fundamentals of Greek listed companies.

The previous forecast by the firm on the Greek Stock Exchange was 1,375, with Goldman Sachs reiterating its prior estimation of an 8% rise in earnings per share (EPS) for Greece.

Goldman Sach’s forecast contrasts that of other foreign houses like Societe Generale (SocGen) which foresees a downtick of Greek stocks, enhancing the valuation metrics, with a price-to-earnings (P/E) ratio of 7.5x, compared to Goldman Sachs’ target of 8x. The dividend yield is expected to be 5%.

SocGen is not optimistic about the profitability of Greek-listed companies. The bank estimates that price-to-earnings (P/E) ratios will hover around 7.3x, showing marginal improvement by 2025.

Furthermore, the French bank anticipates a decline in profitability, with earnings per share expected to decrease by 3.83% in 2024 and by 1.18% in 2025.