VIENNA, Oct 30 (Reuters) - RCB cut its investment opinion on Austria's Erste Bank <ERST.VI> to "hold" from "buy" on Monday, saying the stock had reached its target price and the third-quarter results did not justify an upgrade.
"As the stock has reached our target price and 3Q figures seem not to justify a substantial upgrade of our estimates we change our recommendation from 'buy' to 'hold'," RCB analyst Stefan Maxian said in a research note. ((Reporting by Boris Groendahl, editing by Sue Thomas, Vienna Newsroom, phone +43 1 531 12-258))