Other stocks being tipped for investors include Bank of Ireland and Esat. ABN-Amro says Irish banks continue to be major beneficiaries of volume growth in the State's dynamic economy. It notes that this has fostered a benign neglect in recent years to its cost base but suggests this is soon to change.

Bank of Ireland's cost base is relatively higher than its closest peers with costs per branch up to 25 per cent higher than at AIB. The bank has announced a major cost reduction plan over the next three years which is now being viewed positively by the markets.

Meanwhile, Esat continues to be rated as a buy with ABN suggesting the stock will be the beneficiary of further consolidation-led sentiment for some time.