2026
| Date | Company | Recommendation | Target price (PLN) | Share price on the recommendation date (PLN) |
|---|---|---|---|---|
| 8 May 2026 | Ipopema | Hold | 15.00 | 16.03 |
| 27 April 2026 | PKO BP Securities | Buy | 16.00 | 13.91 |
| 22 April 2026 | Santander Biuro Maklerskie | Outperform | 15.40 | 12.70 |
| 21 April 2026 | DM Trigon | Buy | 13.50 | 11.63 |
| 7 April 2026 | ODDO BHF | Neutral | 12.50 | 11.61 |
| 22 January 2026 | Dom Maklerski BDM S.A. | Buy | 15.27 | 13.20 |
| 20 January 2026 | Wood&Co | Sell | 11.86 | 13.48 |
| 1 January 2026 | DM BOŚ | Buy | 15.00 | 12.20 |
2025
| Date | Company | Recommendation | Target price (PLN) | Share price on the recommendation date (PLN) |
|---|---|---|---|---|
| 10 December 2025 | DM Trigon | Buy | 13.00 | 10.99 |
| 3 December 2025 | Biuro Maklerskie Pekao | Hold | 12.60 | 11.00 |
| 30 November 2025 | DM BOŚ | Hold | 15.00 | 11.42 |
| 28 November 2025 | Santander Biuro Maklerskie | Neutral | 13.20 | 11.56 |
| 27 November 2025 | Ipopema | Sell | 8.50 | 11.08 |
| 26 November 2025 | Biuro maklerskie mBanku | Buy | 15.70 | 11.66 |
| 26 November 2025 | HSBC | Reduce | 9.20 | 11.60 |
| 26 November 2025 | ERSTE | Hold | 12.60 | 11.60 |
| 29 October 2025 | ODDO BHF | Neutral | 15.00 | 13.70 |
| 23 October 2025 | Biuro maklerskie mBanku | Hold | 15.30 | 14.15 |
| 20 October 2025 | DM Trigon | Hold | 16.00 | 14.00 |
| 15 October 2025 | DM BOŚ | Hold | 16.80 | 14.32 |
| 1 October 2025 | Santander Biuro Maklerskie | Outperform | 18.00 | 14.00 |
| 1 October 2025 | PKO BP Securities | Hold | 14.00 | 13.92 |
| 16 September 2025 | ERSTE | Buy | 17.20 | 14.00 |
| 20 August 2025 | Dom Maklerski BDM S.A. | Accumulate | 16.69 | 15.00 |
| 28 July 2025 | Santander Biuro Maklerskie | Neutral | 17.90 | 15.83 |
| 21 July 2025 | DM Trigon | Hold | 18.80 | 16.70 |
| 4 June 2025 | Santander Biuro Maklerskie | Outperform | 19.90 | 16.50 |
| 20 May 2025 | Biuro Maklerskie Pekao | Buy | 20.80 | 17.02 |
| 19 May 2025 | ERSTE | Hold | 19.20 | 18.00 |
| 28 April 2025 | DM BOŚ | Hold | 18.30 | 18.30 |
| 25 April 2025 | PKO BP Securities | Sell | 14.00 | 18.09 |
| 17 April 2025 | DM Trigon | Hold | 18.60 | 16.40 |
| 16 April 2025 | Santander Biuro Maklerskie | Outperform | 19.60 | 16.68 |
| 20 February 2025 | Santander Biuro Maklerskie | Neutral | 16.90 | 14.80 |
| 19 February 2025 | DM BOŚ | Hold | 16.00 | 14.45 |
| 24 January 2025 | PKO BP Securities | Hold | 14.00 | 14.75 |
2024
| Date | Company | Recommendation | Target price (PLN) | Share price on the recommendation date (PLN) |
|---|---|---|---|---|
| 10 December 2024 | DM Trigon | Buy | 18.00 | 14.60 |
| 26 November 2024 | Biuro maklerskie mBanku | Buy | 16.40 | 14.09 |
| 26 November 2024 | Santander Biuro Maklerskie | Outperform | 18.50 | 13.70 |
| 21 November 2024 | Ipopema | Buy | 15.50 | 12.30 |
| 14 November 2024 | PKO BP Securities | Buy | 14.00 | 12.01 |
| 21 October 2024 | DM BOŚ | Buy | 16.00 | 12.28 |
| 21 October 2024 | DM Trigon | Buy | 14.60 | 12.28 |
| 16 October 2024 | Dom Maklerski BDM S.A. | Buy | 14.79 | 12.23 |
| 4 October 2024 | ERSTE | Accumulate | 14.80 | 12.70 |
| 3 September 2024 | Biuro Maklerskie Pekao | Buy | 20.00 | 14.56 |
| 22 August 2024 | Biuro maklerskie mBanku | Buy | 15.60 | 12.98 |
| 22 July 2024 | Dom Maklerski BDM S.A. | Buy | 14.05 | 11.52 |
| 22 July 2024 | DM BOŚ | Buy | 14.60 | 11.74 |
| 19 July 2024 | DM Trigon | Buy | 13.20 | 11.37 |
| 18 July 2024 | PKO BP Securities | Hold | 12.20 | 11.76 |
| 28 May 2024 | PKO BP Securities | Sell | 12.20 | 13.50 |
| 27 May 2024 | Santander Biuro Maklerskie | Neutral | 14.70 | 13.14 |
| 13 May 2024 | Santander Biuro Maklerskie | Outperform | 13.90 | 11.85 |
| 8 May 2024 | Dom Maklerski BDM S.A. | Buy | 13.39 | 10.50 |
| 6 May 2024 | Biuro maklerskie mBanku | Buy | 12.60 | 9.98 |
| 19 April 2024 | DM Trigon | Hold | 10.60 | 9.83 |
| 29 February 2024 | PKO BP Securities | Sell | 9.90 | 12.20 |
| 22 February 2024 | Santander Biuro Maklerskie | Neutral | 12.20 | 11.47 |
2023
| Date | Company | Recommendation | Target price (PLN) | Share price on the recommendation date (PLN) |
|---|---|---|---|---|
| 14 December 2023 | Erste | Accumulate | 15.00 | 13.10 |
| 4 December 2023 | Biuro Maklerskie Pekao | Hold | 14.70 | 13.38 |
| 1 December 2023 | Biuro maklerskie mBanku | Hold | 14.00 | 12.83 |
| 16 November 2023 | Santander Biuro Maklerskie | Neutral | 14.20 | 12.77 |
| 15 Novembr 2023 | Ipopema | Hold | 11.50 | 12.50 |
| 23 October 2023 | DM Trigon | Buy | 16.60 | 12.85 |
| 17 October 2023 | DM BOŚ | Hold | 14.00 | 12.89 |
| 11 October 2023 | Santander Biuro Maklerskie | Outperform | 17.50 | 12.18 |
| 5 October 2023 | Erste | Buy | 15.00 | 11.40 |
| 2 October 2023 | Biuro maklerskie mBanku | Buy | 18.80 | 12.09 |
| 28 September 2023 | PKO BP Securities | Hold | 13.50 | 12.34 |
| 1 September 2023 | Biuro maklerskie mBank | Buy | 18.20 | 13.56 |
| 28 August 2023 | Wood&Co | Hold | 15.42 | 14.05 |
| 18 July 2023 | DM BOŚ | Hold | 16.70 | 16.70 |
| 14 July 2023 | DM BOŚ | Neutral | 20.20 | 16.41 |
| 3 July 2023 | Biuro maklerskie mBanku | Hold | 18.20 | 16.51 |
| 28 June 2023 | Ipopema | Hold | 16.00 | 16.69 |
| 17 May 2023 | Santander Biuro Maklerskie | Underperform | 17.80 | 18.12 |
| 24 April 2023 | DM BOŚ | Underweight | 20.20 | 16.92 |
| 24 April 2023 | DM Trigon | Hold | 18.00 | 16.84 |
| 12 April 2023 | Santander Biuro Maklerskie | Neutral | 18.50 | 16.02 |
| 6 April 2023 | Biuro Maklerskie Pekao | Buy | 20.40 | 16.21 |
2022
| Date | Company | Recommendation | Target price (PLN) | Share price on the recommendation date (PLN) |
|---|---|---|---|---|
| 12 December 2022 | DM Trigon | Buy | 22.00 | 18.18 |
| 12 December 2022 | Ipopema | Sell | 15.50 | 18.12 |
| 12 December 2022 | Haitong | Neutral | 18.90 | 18.16 |
| 7 December 2022 | ERSTE | Accumulate | 21.00 | 18.20 |
| 4 December 2022 | DM BOŚ | Hold | 20.00 | 18,10 |
| 2 December 2022 | Santander Biuro Maklerskie | Neutral | 20.30 | 18.70 |
| 1 December 2022 | Biuro maklerskie mBanku | Accumulate | 20.10 | 18.59 |
| 7 November 2022 | PKO BP Securities | Hold | 19.00 | 18.57 |
| 3 October 2022 | Biuro maklerskie mBanku | Buy | 22.00 | 16.05 |
| 21 September 2022 | Haitong | Buy | 20.50 | 17.18 |
| 8 September 2022 | Santander Biuro Maklerskie | Outperform | 22.60 | 18.26 |
| 5 September 2022 | DM BOŚ | Nautral | 21.60 | 19.30 |
| 23 August 2022 | Haitong | Neutral | 21.70 | 20.30 |
| July 2022 | DM Trigon | Buy | 24.00 | 19.97 |
| 8 July 2022 | Biuro maklerskie mBanku | Hold | 22.60 | 21.62 |
| 4 July 2022 | Ipopema | Sell | 18.20 | 21.22 |
| 1 July 2022 | Haitong | Neutral | 22.90 | 21.58 |
| 15 June 2022 | ERSTE | Buy | 28.00 | 18.80 |
| 7 June 2022 | Citi | Neutral | - | 20.46 |
| 2 June 2022 | Santander Biuro Maklerskie | Underperform | 23.40 | 22.46 |
| 12 May 2022 | Ipopema | Sell | 18.00 | 22.98 |
| April 2022 | DM Trigon | Hold | 29.50 | 27.32 |
| 14 April 2022 | Barclays | Overweight | 34.00 | 28.00 |
| 1 April 2022 | Biuro Maklerskie Pekao | Buy | 33.57 | 28.14 |
| 9 March 2022 | Santander Biuro Maklerskie | Underperform | 28.40 | 27.70 |
2021
| Date | Company | Recommendation | Target price (PLN) | Share price on the recommendation date (PLN) |
|---|---|---|---|---|
| 14 December 2021 | Ipopema | Hold | 32.50 | 36.80 |
| 14 December | Haitong | Neutral | 34.90 | 34.72 |
| 9 December 2021 | DM Trigon | Buy | 39.00 | 33.88 |
| 5 December 2021 | DM BOŚ | Neutral | 35.50 | 33.88 |
| 3 December 2021 | Santander Biuro Maklerskie | Sell | 33.20 | 34.06 |
| 29 November 2021 | Wood&Co | Hold | 34.00 | 35.00 |
| 9 November 2021 | Santander Biuro Maklerskie | Sell | 34.94 | 32.90 |
| 19 October 2021 | Barclays | Overweight | 40.00 | 36.84 |
| 6 October 2021 | Biuro maklerskie mBanku | Hold | 36.20 | 35.62 |
| 1 October 2021 | Goldman Sachs | Sell | 28.60 | 35.58 |
| 30 September 2021 | Citi | Neutral | 35.00 | 35.58 |
| 2 September 2021 | Haitong | Neutral | 36.70 | 36.56 |
| 31 August 2021 | Santander Biuro Maklerskie | Hold | 35.60 | 37.89 |
| 31 August 2021 | Barclays | Overweight | 39.00 | 36.56 |
| 23 August 2021 | PKO BP Securities | Buy | 39.20 | 35.32 |
| 26 July 2021 | Ipopema | Buy | 38.00 | 33.32 |
| 23 July 2021 | Citi | Neutral | 29.80 | 33.04 |
| 21 July 2021 | Barclays | Overweight | 36.00 | 32.42 |
| 21 July 2021 | DM Trigon | Buy | 36.00 | 32.00 |
| 20 July 2021 | DM BOŚ | Buy | 30.50 | 32.42 |
| 25 June 2021 | ERSTE | Buy | 36.00 | 29.70 |
| 2 June 2021 | Goldman Sachs | Sell | 27.20 | 30.76 |
| 28 May 2021 | Santander Biuro Maklerskie | Buy | 33.70 | 30.70 |
| 14 May2021 | Ipopema | Buy | 37.00 | 28.56 |
| 26 April 2021 | DM Trigon | Buy | 34.00 | 30.40 |
| 29 March 2021 | Barclays | Overweight | 35.00 | 28.86 |
| 5 February 2021 | Santander Biuro Maklerskie | Hold | 28.80 | 28.06 |
| 16 January 2021 | Goldman Sachs | Sell | 28.30 | 30.22 |
2020
| Date | Company | Recommendation | Target price (PLN) | Share price on the recommendation date (PLN) |
|---|---|---|---|---|
| December 2020 | DM BOŚ | Buy | 30.50 | 27.66 |
| 14 December 2020 | Haitong | Buy | 32.30 | 27.84 |
| 11 December 2020 | Barclays | Overweight | 34.00 | 27.34 |
| 8 December | Biuro maklerskie mBanku | Hold | 27.84 | 27.90 |
| 8 December 2020 | Ipopema | Buy | 33.00 | 27.66 |
| 7 December 2020 | PKO BP | Buy | 31.00 | 27.66 |
| 1 December 2020 | Biuro Maklerskie Pekao | Buy | 31.30 | 27.10 |
| 23 November 2020 | Santander Biuro Maklerskie | Hold | 27.80 | 26.62 |
| 5 Novembr 2020 | Wood&Co | Buy | 30.60 | 25.80 |
| 22 October 2020 | Haitong | Buy | 28.70 | 25.32 |
| 20 October 2020 | DM Trigon | Buy | 30.50 | 25.36 |
| 5 October 2020 | ERSTE | Accumulate | 31.00 | 27.30 |
| 9 September 2020 | Ipopema | Buy | 33.00 | 26.00 |
| 2 September 2020 | Biuro maklerskie mBanku | Hold | 26.30 | 26.92 |
| 31 August 2020 | Goldman Sachs | Sell | 25.80 | 28.06 |
| 31 August 2020 | Santander Biuro Maklerskie | Hold | 27.50 | 28.06 |
| 31 August 2020 | Haitong | Neutral | 29.40 | 28.70 |
| 20 July 2020 | DM trigon | Buy | 31.10 | 27.62 |
| 7 July 2020 | Citi | Neutral | 29.80 | 27.44 |
| 6 July 2020 | DM Trigon | Buy | 31.00 | 27.34 |
| 24 June 2020 | Haitong | Neutral | 28.90 | 27.68 |
| 3 June 2020 | Santander Biuro Maklerskie | Buy | 29.30 | 25.00 |
| 7 May 2020 | PKO BP | Hold | 26.80 | 24.50 |
| 1 April 2020 | Biuro maklerskie mBanku | Hold | 24.10 | 23.82 |
| 24 March 2020 | Haitong | Buy | 27.40 | 23.90 |
| 16 March 2020 | Pekao Investment Banking S.A. | Buy | 30.60 | 21.08 |
| 4 March 2020 | Biuro maklerskie mBanku | Hold | 26.10 | 26.24 |
| 26 February 2020 | Raiffeisen CENTROBANK | Hold | 30.00 | 27.56 |
| 29 January 2020 | Santander Biuro Maklerskie | Buy | 30.30 | 26.60 |
| 24 January 2020 | Goldman Sachs | Sell | 27.70 | 28.60 |
| 24 January 2020 | ERSTE | Hold | 30.00 | 27.80 |
2019
| Date | Company | Recommendation | Target price (PLN) | Share price on the recommendation date (PLN) |
|---|---|---|---|---|
| 17 December 2019 | Haitong | Buy | 32.00 | 27.50 |
| 9 December 2019 | DM Trigon | Sell | 24.70 | 27.50 |
| 8 December 2019 | DM BOŚ | Hold | 25.80 | 27.30 |
| 4 December 2019 | Citi | Neutral | 30.50 | 27.36 |
| 3 December 2019 | Pekao Investment Banking S.A. | Hold | 29.70 | 27.92 |
| 21 November 2019 | Santander Biuro Maklerskie | Hold | 29.80 | 28.70 |
| 14 November 2019 | DM mBanku | Reduce | 26.10 | 28.86 |
| 18 October 2019 | DM Trigon | Sell | 24.50 | 27.36 |
| 10 October 2019 | Raiffeisen CENTROBANK | Hold | 29.00 | 27.60 |
| 8 October 2019 | Pekao Investment Banking S.A. | Buy | 30.70 | 27.34 |
| 26 September 2019 | Haitong | Buy | 29.00 | 25.54 |
| 13 August 2019 | Ipopema | Hold | 28.10 | 25.27 |
| 8 August 2019 | Wood&Co | Hold | 30.50 | 29.20 |
| 18 July 2019 | DM Trigon | Sell | 25.70 | 30.08 |
| 16 July 2019 | Citi | Neutral | 31.00 | 30.40 |
| 11 July 2019 | Goldman Sachs | Neutral | 31.50 | 30.90 |
| 8 July 2019 | UBS | Neutral | 32.00 | 30.60 |
| 28 June 2019 | DM Trigon | Sell | 25.90 | 30.58 |
| 12 June 2019 | Goldman Sachs | Neutral | 30.50 | 28.20 |
| 12 June 2019 | PKO BP | Hold | 29.50 | 28.20 |
| 11 June 2019 | Pekao Investment Banking S.A. | Buy | 32.60 | 28.10 |
| 6 June 2019 | Santander Biuro Maklerskie | Hold | 27.10 | 26.44 |
| 4 June 2019 | Pekao Investment Banking S.A. | Buy | 29.90 | 25.68 |
| 31 May 2019 | DM mBanku | Reduce | 24.60 | 26.00 |
| 22 May 2019 | Santander Biuro Maklerskie | Hold | 25.50 | 24.30 |
| 13 May 2019 | Goldman Sachs | Neutral | 24.40 | 25.84 |
| 18 April 2019 | DM Trigon | Sell | 24.40 | 25.54 |
| 16 April 2019 | ERSTE | Buy | 31.00 | 25.80 |
| 22 March 2019 | Pekao Investment Banking S.A. | Buy | 30.30 | 26.24 |
| 21 February 2019 | UBS | Buy | 30.00 | 25.54 |
| 23 January 2019 | ERSTE | Buy | 30.00 | 22.90 |
| 16 January 2019 | Goldman Sachs | Neutral | 24.50 | 23.24 |
| 9 January 2019 | Ipopema | Buy | 26.20 | 22.40 |
2018
| Date | Company | Recommendation | Target price (PLN) | Share price on the recommendation date (PLN) |
|---|---|---|---|---|
| 18 December 2018 | Wood&Co | Hold | 25.00 | 26.30 |
| 11 December 2018 | Haitong | Buy | 26.00 | 22.80 |
| 9 December 2018 | DM BOŚ | Hold | 24.50 | 22.20 |
| 7 December 2018 | DM Trigon | Hold | 24.10 | 22.46 |
| 4 December 2018 | PKO BP | Hold | 24.50 | 22.68 |
| 28 November 2018 | Pekao Investment Banking S.A. | Buy | 29.70 | 22.50 |
| 26 November 2018 | DM mBanku | Hold | 23.20 | 22.50 |
| 26 Novemner 2018 | Citi | Neutral | 25.20 | 22.60 |
| 18 Otcober 2018 | DM Trigon | Hold | 23.20 | 22.44 |
| 11 October 2018 | Goldman Sachs | Neutral | 24.40 | 23.30 |
| 4 October 2018 | ERSTE | Buy | 32.00 | 22.30 |
| 28 August 2018 | Raiffeisen CENTROBANK | Buy | 27.00 | 23.18 |
| 20 August 2018 | DM BZ WBK1 | Hold | 24.00 | 22.48 |
| 19 July 2018 | DM Trigon | Hold | 24.90 | 23.78 |
| 18 July 2018 | Goldman Sachs | Neutral | 28.70 | 23.64 |
| 27 June 2018 | Pekao Investment Banking S.A. | Buy | 29.30 | 22.52 |
| 15 June 2018 | DM mBanku | Accumulate | 24.90 | 22.76 |
| 14 June 2018 | Raiffeisen CENTROBANK | Buy | 27.50 | 22.70 |
| 7 June 2018 | Ipopema | Buy | 28.00 | 24.98 |
| 1 June 2018 | ERSTE | Buy | 32.00 | 24.90 |
| 10 May 2018 | DM BOŚ | Hold | 27.00 | 26.14 |
| 12 April 2018 | Goldman Sachs | Neutral | 27.60 | 24.74 |
| 10 April 2018 | DM Trigon | Buy | 27.40 | 24.43 |
| 6 April 2018 | Citi | Nautral | 27.70 | 24.84 |
| 6 April 2018 | DM mBanku | Hold | 25.30 | 24.84 |
| 4 April 2018 | PKO BP | Buy | 28.50 | 25.24 |
| 20 March 2018 | Goldman Sachs | Neutral | 27.90 | 24.08 |
| 19 March 2018 | Citi | Neutral | 26.70 | 23.96 |
| 5 March 2018 | DM mBanku | Accumulate | 24.90 | 22.80 |
| 13 February 2018 | Raiffeisen CENTROBANK | Buy | 27.30 | 23.08 |
| 8 February 2018 | Goldman Sachs | Neutral | 27.80 | 23.34 |
| 2 February 2018 | Berenberg | Hold | 27.50 | 24.02 |
| 31 January 2018 | DM mBanku | Hold | 25.70 | 24.70 |
1 currently Santander Biuro Maklerskie
2017
| Date | Company | Recommendation | Target price (PLN) | Share price on the recommendation date (PLN) |
|---|---|---|---|---|
| 18 December 2017 | Haitong | Buy | 27.50 | 23.91 |
| 10 December 2017 | DM BOŚ | Buy | 27.00 | 24.00 |
| 5 December 2017 | Goldman Sachs | Neutral | 26.60 | 24.45 |
| 17 November 2017 | UBS | Buy | 30.00 | 24.35 |
| 23 October 2017 | Raiffeisen CENTROBANK | Buy | 28.60 | 24.42 |
| 5 October 2017 | ERSTE | Accumulate | 31.00 | 26.00 |
| 22 September 2017 | Trigon DM | Buy | 29.10 | 25.98 |
| 11 September 2017 | Raiffeisen CENTROBANK | Buy | 29.50 | 26.48 |
| 5 September 2017 | Haitong | Buy | 30.40 | 26.40 |
| 1 September 2017 | ERSTE | Accumulate | 31.00 | 26.60 |
| 29 August 2017 | DM mBanku | Reduce | 24.40 | 27.80 |
| 23 August 2017 | PKO BP | Buy | 29.20 | 26.45 |
| 26 July 2017 | Citi | Neutral | 27.00 | 25.41 |
| 26 July 2017 | Ipopema | Hold | 26.00 | 25.41 |
| 25 July 2017 | Deutsche Bank | Hold | 28.00 | 26.00 |
| 18 July 2017 | DM BOŚ | Hold | 26.20 | 25.60 |
| 11 July 2017 | Haitong | Buy | 30.00 | 25.07 |
| 30 June 2017 | Pekao Investment Banking S.A. | Hold | 24.34 | 24.14 |
| 7 June 2017 | Wood&Co | Hold | 28.90 | 26.30 |
| 17 May 2017 | DM BOŚ | Sell | 25.50 | 27.08 |
| 16 May 2017 | Goldman Sachs | Neutral | 26.80 | 26.55 |
| 15 May 2017 | BDM | Accumulate | 28.49 | 26.00 |
| 8 May 2017 | Raiffeisen CENTROBANK | Buy | 28.00 | 24.71 |
| 26 April 2017 | Wood&Co | Buy | 28.60 | 23.30 |
| 17 April 2017 | Goldman Sachs | Neutral | 25.60 | 24.15 |
| 23 March 2017 | Berenberg | Buy | 27.50 | 23.50 |
| 23 March 2017 | Trigon DM | Buy | 29.40 | 23.41 |
| 14 March 2017 | Citi | Neutral | 25.00 | 23.16 |
| 3 March 2017 | ERSTE | Accumulate | 26.00 | 23.50 |
| 17 February 2017 | BZ WBK | Buy | 28.50 | 24.14 |
| 30 January 2017 | Ipopema | Hold | 25.00 | 24.49 |
| 27 January 2017 | DM mBanku | Reduce | 22.30 | 24.65 |
2016
| Date | Company | Recommendation | Target price (PLN) | Share price on the recommendation date (PLN) |
|---|---|---|---|---|
| 14 December 2016 | Goldman Sachs | Neutral | 25.20 | 23.66 |
| 14 December 2016 | PKO BP | Buy | 27.50 | 23.66 |
| December 2016 | Trigon DM | Buy | 28.10 | 23.56 |
| 4 December 2016 | DM BOŚ | Hold | 25.10 | 23.56 |
| 2 December 2016 | Haitong | Buy | 27.10 | 24.15 |
| 24 October 2016 | Trigon DM | Buy | 29.30 | 23.77 |
| 20 October 2016 | Raiffeisen CENTROBANK | Hold | 27.00 | 23.58 |
| 5 October 2016 | ERSTE | Hold | 26.00 | 24.90 |
| 4 October 2016 | Deutsche Bank | Hold | 26.00 | 24.32 |
| 23 September 2016 | PKO BP | Buy | 29.00 | 25.43 |
| 15 September 2016 | BDM | Accumulate | 26.36 | 23.90 |
| 13 September 2016 | DM mBanku | Reduce | 21.80 | 24.25 |
| 1 September 2016 | Goldman Sachs | Neutral | 24.30 | 24.60 |
| 22 August 2016 | Ipopema | Buy | 27.40 | 24.08 |
| 22 August 2016 | Haitong | Buy | 27.00 | 24.09 |
| 10 August 2016 | Wood&Co | Buy | 27.80 | 24.00 |
| 21 July 2016 | DM BOŚ | Hold | 24.40 | 23.34 |
| 13 July 2016 | Citi | Neutral | 24.80 | 22.35 |
| 17 June 2016 | Pekao Investment Banking S.A. | Buy | 24.00 | 20.13 |
| 8 June 2016 | PKO BP | Buy | 26.10 | 22.34 |
| 11 May 2016 | Berenberg | Hold | 25.70 | 23.29 |
| 10 May 2016 | Goldman Sachs | Hold | 24.00 | 23.26 |
| April 2016 | Patria Finance a.s. | Hold | 25.30 | 24.20 |
| 22 April 2016 | BZ WBK | Buy | 31.00 | 24.51 |
| 18 April 2016 | DM BOŚ | Hold | 25.10 | 24.35 |
| 8 April 2016 | Trigon DM | Buy | 28.60 | 23.22 |
| 31 March 2016 | ERSTE | Hold | 26.00 | 24.70 |
| 29 March 2016 | Raiffeisen CENTROBANK | Buy | 27.70 | 23.99 |
| 21 March 2016 | ING | Buy | 27.80 | 22.86 |
| 17 March 2016 | UBS | Buy | 28.00 | 22.95 |
| 24 February 2016 | Goldman Sachs | Neutral | 23.40 | 22.90 |
| 11 February 2016 | BDM | Accumulate | 24.65 | 21.60 |
| 9 February 2016 | Ipopema | Buy | 24.00 | 21.30 |
| 2 February 2016 | DM mBanku | Hold | 22.10 | 21.99 |
| 20 January 2016 | Raiffeisen CENTROBANK | Buy | 26.50 | 20.82 |
| 13 January 2016 | Deutsche Bank | Buy | 26.00 | 20.79 |
2015
| Date | Company | Recommendation | Target price (PLN) | Share price on the recommendation date (PLN) |
|---|---|---|---|---|
| 18 December 2015 | ING | Hold | 23.20 | 20.43 |
| 15 December 2015 | PKO BP | Buy | 26.60 | 21.00 |
| 15 December 2015 | Goldman Sachs | Neutral | 23.60 | 21.00 |
| 15 December 2015 | Haitong | Buy | 26.10 | 20.43 |
| 11 December 2015 | Ipopema | Buy | 27.20 | 22.12 |
| 3 December 2015 | DM mBanku | Reduce | 22.10 | 24.20 |
| 15 November 2015 | Deutsche Bank | Hold | 27.00 | 25.10 |
| 27 October 2015 | Citi | Neutral | 25.80 | 25.02 |
| 26 October 2015 | BDM | Hold | 24.21 | 24.81 |
| 19 October2015 | BZ WK | Buy | 32.00 | 31.50 |
| 16 October 2015 | ING | Hold | 26.30 | 25.50 |
| 16 October 2015 | Trigon DM | Buy | 28.30 | 25.38 |
| 2 September 2015 | Wood&Company | Buy | 28.70 | 22.40 |
| 27 August 2015 | Goldman Sachs | Neutral | 24.80 | 21.20 |
| 22 July 2015 | DM BOŚ | Hold | 25.00 | 23.20 |
| 21 July 2015 | Raiffeisen CENTROBANK | Buy | 28.50 | 23.17 |
| July 2015 | ING | Buy | 27.00 | 22.90 |
| 15 July 2015 | BESI | Buy | 28.00 | 22.31 |
| 8 July 2015 | DM BZ WBK | Buy | 31.50 | 23.50 |
| 25 May 2015 | DM PKO BP | Hold | 27.90 | 25.80 |
| 7 May 2015 | ERSTE | Buy | 30.00 | 24.80 |
| 22 April 2015 | DM BZ WBK | Buy | 31.70 | 24.80 |
| 21 April 2015 | Goldman Sachs | Neutral | 26.10 | 25.44 |
| 26 March 2015 | Raiffeisen CENTROBANK | Buy | 30.00 | 24.80 |
| 12 March 2015 | Trigon DM | Buy | 28.30 | 25.01 |
| 11 March 2015 | Goldman Sachs | Neutral | 25.80 | 24.12 |
| 9 March 2015 | UBS | Buy | 28.00 | 24.15 |
| 18 February 2015 | Raiffeisen CENTROBANK | Buy | 29.00 | 23.80 |
| 17 February 2015 | Goldman Sachs | Neutral | 27.30 | 23.80 |
| 11 February 2015 | DM BZ WBK | Buy | 31.10 | 23.60 |
| 10 February 2015 | Erste Group | Hold | 26.00 | 23.90 |
| 2 February 2015 | Trigon DM | Buy | 28.80 | 23.65 |
| 19 January 2015 | Ipopema | Buy | 26.70 | 22.15 |
| 19 January 2015 | BDM | Reduce | 20.11 | 22.13 |
| 16 January 2015 | Deutsche Bank | Hold | 26.00 | 22.46 |
2014
| Date | Company | Recommendation | Target price (PLN) | Share price on the recommendation date (PLN) |
|---|---|---|---|---|
| December 2014 | ING | Buy | 29.10 | 25.00 |
| 15 December 2014 | DM mBanku | Reduce | 22.00 | 25.00 |
| 11 December 2014 | BESI | Buy | 29.10 | 24.71 |
| 10 December 2014 | UniCredit | Hold | 26.00 | 24.71 |
| 8 December 2014 | Trigon DM | Buy | 29.40 | 24.70 |
| 4 December 2014 | DM PKO BP | Buy | 28.40 | 24.20 |
| 24 October 2014 | Deutsche Bank | Hold | 28.00 | 27.20 |
| 20 October 2014 | BZ WBK | Buy | 32.30 | 25.97 |
| 13 October 2014 | UBS | Buy | 30.00 | 26.16 |
| 16 September 2014 | ING | Buy | 29.90 | 26.00 |
| 1 September 2014 | DM BOŚ | Hold | 26.50 | 25.49 |
| 4 August 2014 | DM BZ WBK | Buy | 31.40 | 23.40 |
| 22 July 2014 | Espirito Santo | Buy | 27.10 | 23.80 |
| 21 July 2014 | Raiffeisen CENTROBANK | Buy | 26.50 | 22.80 |
| 21 July 2014 | Goldman Sachs | Neutral | 25.90 | 22.67 |
| 17 July 2014 | DM BOŚ | Buy | 26.50 | 22.67 |
| 10 July 2014 | DB | Buy | 27.00 | 21.58 |
| 23 June 2014 | PKO BP | Hold | 23.60 | 22.30 |
| 26 June 2014 | UniCredit | Buy | 26.00 | 21.99 |
| 25 June 2014 | UBS | Buy | 27.00 | 22.46 |
| 23 May 2014 | ING | Buy | 24.70 | 20.75 |
| 30 April 2014 | Trigon DM | Buy | 26.40 | 20.05 |
| 27 March 2014 | Deutsche Bank | Hold | 22.60 | 20.85 |
| 17 March 2014 | Raiffeisen CENTROBANK | Hold | 23.20 | 20.72 |
| 11 February 2014 | ING | Hold | 21.20 | 19.80 |
| 13 January 2014 | Raiffeisen CENTROBANK | Buy | 23.20 | 19.00 |
| 10 January 2014 | DM mBanku | Buy | 24.10 | 18.73 |
2013
| Date | Company | Recommendation | Target price (PLN) | Share price on the recommendation date (PLN) |
|---|---|---|---|---|
| 17 December 2013 | DM PKO BP | Hold | 19.90 | 19.30 |
| 10 December 2013 | UniCredit | Buy | 24.50 | 19.81 |
| 8 December 2013 | IDMSA | Buy | 23.40 | 19.31 |
| 29 November 2013 | ERSTE GROUP | Hold | 20.00 | 19.90 |
| 27 November 2013 | Espirito Santo | Buy | 23.80 | 19.35 |
| 15 November 2013 | UBS | Neutral | 23.00 | 20.40 |
| 14 November 2013 | Trigon DM | - | 21.6-23.9 | 22.40 |
| 25 October 2013 | DI Investors S.A. | Neutral | 25.50 | 23.80 |
| 16 October 2013 | IDMSA | Hold | 22.30 | 24.20 |
| 25 September 2013 | ERSTE GROUP | Accumulate | 24.00 | 21.30 |
| 12 September 2013 | Raiffeisen CENTROBANK | Hold | 22.60 | 21.30 |
| 2 September 2013 | Societe Generale | Hold | 20.70 | 20.10 |
| 2 September 2013 | Espirito Santo | Buy | 23.70 | 20.12 |
| 13 August 2013 | Deutsche Bank | Hold | 22.00 | 21.67 |
| 7 August 2013 | Societe Generale | Sell | 20.70 | 22.30 |
| 17 July 2013 | IDMSA | Hold | 20.20 | 21.60 |
| 17 July 2013 | ING | Sell | 19.30 | 21.60 |
| 8 July 2013 | UBS | Buy | 23.00 | 19.68 |
| 17 June 2013 | BDM | Hold | 20.82 | 19.64 |
| 11 June 2013 | Raiffeisen CENTROBANK | Buy | 21.90 | 18.89 |
| 3 June 2013 | DM PKO BP | Hold | 20.40 | 18.20 |
| 29 May 2013 | UniCredit | Hold | 20.30 | 18.49 |
| 15 May 2013 | IDMSA | Hold | 19.20 | 19.20 |
| 17 April 2013 | IDMSA | Buy | 19.20 | 16.50 |
| 15 April 2013 | IDMSA | Hold | 19.20 | 17.06 |
| 11 April 2013 | Deutsche Bank | Buy | 22.00 | 16.42 |
| 18 March 2013 | Raiffeisen CENTROBANK | Hold | 19.50 | 18.00 |
| 18 February 2013 | Raiffeisen CENTROBANK | Buy | 18.50 | 15.81 |
| 12 February 2013 | Societe Generale | Hold | 18.20 | 16.70 |
| 11 February 2013 | KBC Securities | Buy | 18.90 | 16.32 |
| 30 January 2013 | BDM | Accumulate | 18.70 | 16.93 |
| 25 January 2013 | ING | Hold | 19.00 | 17.90 |
| 9 January 2013 | IPOPEMA | Hold | 17.00 | 17.00 |
2012
| Date | Company | Recommendation | Target price (PLN) | Share price on the recommendation date (PLN) |
|---|---|---|---|---|
| 27 December 2012 | DM AmerBrokers | Hold | 17.34 | 16.34 |
| 14 December 2012 | DM PKO BP | Hold | 17.80 | 16.90 |
| 13 December 2012 | IDMSA | Hold | 16.50 | 16.86 |
| 12 December | Wood & Company | Buy | 19.60 | 17.10 |
| 10 December 2012 | DI BRE | Hold | 15.60 | 15.40 |
| 26 November 2012 | Espirito Santo | Buy | 17.90 | 15.60 |
| 21 November 2012 | Raiffeisen CENTROBANK | Hold | 17.50 | 15.60 |
| 19 November 2012 | KBC Securities | Buy | 18.00 | 14.70 |
| 16 November 2012 | Deutsche Bank | Buy | 18.50 | 14.70 |
| 15 November 2012 | Societe Generale | Buy | 16.80 | 14.50 |
| 22 October 2012 | Societe Generale | Hold | 15.70 | 14.40 |
| 2 October 2012 | IDMSA | Hold | 15.30 | 14.67 |
| 1 October 2012 | Trigon DM | Buy | 17.10 | 14.70 |
| 25 September 2012 | BDM | Hold | 15.15 | 14.60 |
| 18 September 2012 | KBC Securities | Buy | 17.40 | 14.52 |
| 12 September 2012 | UBS | Buy | 18.00 | 14.20 |
| 4 September 2012 | UniCredit | Buy | 16.60 | 14.18 |
| 3 September 2012 | IPOPEMA | Sell | 13.50 | 14.20 |
| 20 August 2012 | Espirito Santo | Neutral | 16.70 | 15.60 |
| 10 August 2012 | UBS | Neutral | 17.00 | 15.31 |
| 6 August 2012 | Raiffeisen CENTROBANK | Buy | 16.80 | 14.50 |
| 3 August 2012 | DI BRE | Reduce | 13.20 | 14.35 |
| 3 August 2012 | Societe Generale | Hold | 15.45 | 14.50 |
| 23 August 2012 | ING | Buy | 18.00 | 14.22 |
| 13 June 2012 | Societe Generale | Hold | 14.58 | 13.80 |
| 22 March 2012 | Raiffeisen CENTROBANK | Buy | 16.20 | 13.85 |
| 21 March 2012 | Deutsche Bank | Buy | 16.40 | 13.99 |
| 16 March 2012 | UBS | Buy | 17.00 | 14.30 |
| 12 March 2012 | IPOPEMA | Sell | 12.80 | 13.65 |
| 13 February 2012 | KBC Securities | Buy | 16.30 | 13.95 |
| 27 January 2012 | ING | Buy | 17.00 | 13.15 |
| 18 January 2012 | IPOPEMA | Hold | 15.10 | 13.10 |
| 11 January 2012 | Raiffeisen CENTROBANK | Hold | 14.60 | 12.80 |
| 9 January 2012 | BDM | Accumulate | 13.44 | 12.60 |
| 1 January 2012 | IDMSA | Hold | 14.50 | 13.50 |
2011
| Date | Company | Recommendation | Target price (PLN) | Share price on the recommendation date (PLN) |
|---|---|---|---|---|
| 13 December 2011 | DM Banku Handlowego | Buy | 17.10 | 13.52 |
| 29 November 2011 | UniCredit | Buy | 16.30 | 12.90 |
| 22 November 2011 | Trigon DM | Hold | 14.00 | 12.94 |
| 19 October 2011 | Deutsche Bank | Buy | 18.50 | 15.35 |
| 13 October 2011 | DI BRE | Hold | 14.80 | 15.35 |
| 13 October 2011 | IDMSA | Hold | 15.20 | 15.15 |
| 3 October 2011 | DM Banku Handlowego | Buy | 19.10 | 14.94 |
| 3 October 2011 | Raiffeisen CENTROBANK | Hold | 16.60 | 14.94 |
| 14 September 2011 | ERSTE GROUP | Buy | 19.00 | 14.70 |
| 12 September 2011 | IPOPEMA | Hold | 16.30 | 14.00 |
| 2 August 2011 | DM Banku Handlowego | Hold | 19.10 | 15.99 |
| 26 July 2011 | Raiffeisen CENTROBANK | Buy | 18.80 | 16.29 |
| 28 June 2011 | UniCredit | Buy | 18.90 | 16.00 |
| 20 June 2011 | UBS | Buy | 18.40 | 15.89 |
| 20 June 2011 | IDMSA | Buy | 19.00 | 16.20 |
| 24 May 2011 | Deutsche Bank | Buy | 20.00 | 16.90 |
| 18 May 2011 | Trigon DM | Buy | 19.00 | 16.25 |
| 16 May 2011 | IDMSA | Hold | 19.00 | 16.89 |
| 18 March 2011 | Raiffeisen CENTROBANK | Buy | 18.50 | 15.50 |
| 14 March 2011 | Trigon DM | Buy | 18.60 | 15.60 |
| 7 February 2011 | KBC Securities | Hold | 16.10 | 15.30 |
| 25 January 2011 | IDMSA | Hold | 17.90 | 16.20 |
| 18 January 2011 | UBS | Neutral | 17.30 | 15.85 |
| 18 January 2011 | Deuche Bank | Buy | 19.00 | 15.30 |
| 17 January 2011 | UniCredit | Buy | 16.90 | 15.01 |
| 14 January 2011 | IPOPEMA | Buy | 18.40 | 15.50 |
2010
| Date | Company | Recommendation | Target price (PLN) | Share price on the recommendation date (PLN) |
|---|---|---|---|---|
| 23 December 2010 | Credit Suisse | Neutral | 16.00 | 16.97 |
| 20 December 2010 | Raiffeisen | Hold | 19.00 | 17.00 |
| 19 December 2010 | IDMSA | Hold | 17.90 | 17.00 |
| 17 December 2010 | DI BRE | Hold | 15.30 | 17.30 |
| 17 December 2010 | ERSTE GROUP | Accumulate | 19.00 | 17.00 |
| 15 December 2010 | UBS | Neutral | 16.90 | 16.36 |
| 8 December 2010 | Deutsche Bank | Buy | 19.00 | 15.90 |
| 2 December 2010 | IPOPEMA | Buy | 18.10 | 15.30 |
| 30 November 2010 | KBC Securities | Buy | 17.00 | 15.10 |
| 18 November 2010 | ERSTE GROUP | Accumulate | 18.00 | 14.88 |
| 14 September 2010 | DI BRE | Hold | 15.30 | 14.92 |
| 7 September 2010 | Raiffeisen | Buy | 17.00 | 14.60 |
| 2 September 2010 | KBC Securities | Buy | 16.70 | 14.55 |
| 29 July 2010 | BDM | Reduce | 13.45 | 14.79 |
| 21 July 2010 | IDMSA | Hold | 15.00 | 14.50 |
| 19 July 2010 | ING | Buy | 16.23 | 14.25 |
| 7 July 2010 | Raiffeisen | Buy | 17.00 | 14.51 |
| 5 July 2010 | Espirito Santo | Hold | 15.90 | 14.50 |
| 28 May 2010 | UniCredit | Buy | 17.60 | 15.10 |
| 10 May 2010 | KBC Securities | Buy | 18.00 | 14.25 |
| 20 April 2010 | IDMSA | Buy | 16.60 | 15.00 |
| 29 March 2010 | DM Banku Handlowego | Sell | 14.40 | 15.70 |
| 29 March 2010 | Raiffeisen | Buy | 18.20 | 15.70 |
| 25 March 2010 | DI BRE | Accumulate | 16.60 | 15.63 |
| 5 February 2010 | UBS | Sell | 12.00 | 14.30 |
| 26 January 2010 | IPOPEMA | Hold | 15.30 | 15.10 |
| 12 January 2010 | UniCredit | Buy | 18.10 | 14.96 |
| 8 January 2010 | Deutsche Bank | Buy | 17.00 | 14.40 |
| 7 January 2010 | IDMSA | Hold | 14.50 | 14.40 |
| 7 January 2010 | DM Banku Handlowego | Buy | 16.50 | 14.07 |
2009
| Date | Company | Recommendation | Target price (PLN) | Share price on the recommendation date (PLN) |
|---|---|---|---|---|
| 18 December 2009 | Raiffeisen | Buy | 15.30 | 13.10 |
| 4 December 2009 | UniCredit | Buy | 17.10 | 13.50 |
| 24 November 2009 | BDM | Reduce | 12.60 | 14.00 |
| 23 November 2009 | ERSTE GROUP | Accumulate | 16.00 | 14.20 |
| 23 November 2009 | IPOPEMA | Sell | 13.10 | 14.30 |
| 12 November 2009 | DM PKO BP | Reduce | 13.50 | 14.19 |
| 10 November 2009 | UBS | Sell | 14.00 | 14.06 |
| 21 October 2009 | IDMSA | Hold | 14.50 | 14.44 |
| 12 October 2009 | KBC Securities | Hold | 13.40 | 14.40 |
| 12 October 2009 | IDMSA | Hold | 16.20 | 14.40 |
| 28 September 2009 | Deutsche Bank | Hold | 16.80 | 15.20 |
| 14 September 2009 | UniCredit | Hold | 15.70 | 14.98 |
| 9 September 2009 | DM Banku Handlowego | Sell | 13.80 | 15.90 |
| 26 August 2009 | UniCredit | Sell | 15.70 | 16.50 |
| 10 August 2009 | UBS | Sell | 14.00 | 17.00 |
| 10 August 2009 | Deutsche Bank | Buy | 19.00 | 17.00 |
| 27 July 2009 | DM PKO BP | Sell | 14.66 | 18.10 |
| 22 July 2009 | DM Millennium | Reduce | 15.90 | 18.00 |
| 22 July 2009 | IDMSA | Sell | 16.20 | 17.65 |
| 17 July 2009 | IPOPEMA | Sell | 16.30 | 17.30 |
| 14 July 2009 | Raiffeisen | Hold | 16.50 | 16.05 |
| 7 July 2009 | BDM | Reduce | 14.70 | 16.30 |
| 29 May 2009 | DI BRE | Hold | 14.55 | 14.25 |
| 21 May 2009 | DM BZ WBK | Hold | 16.70 | 14.42 |
| 21 May 2009 | DM PKO BP | Accumulate | 15.81 | 15.00 |
| 18 May 2009 | UniCredit | Hold | 16.00 | 14.94 |
| 14 May 2009 | IPOPEMA | Hold | 16.30 | 14.11 |
| 11 May 2009 | IPOPEMA | Hold | 18.10 | 14.13 |
| 7 May 2009 | UniCredit | Buy | 16.00 | 13.80 |
| 24 April 2009 | IDMSA | Hold | 15.80 | 14.05 |
| 9 April 2009 | ERSTE GROUP | Accumulate | 16.60 | 14.00 |
| 27 March 2009 | BDM | Accumulate | 14.50 | 13.25 |
| 26 March 2009 | DI BRE | Buy | 15.90 | 13.80 |
| 20 March 2009 | DM Banku Handlowego | Buy | 16.60 | 13.94 |
| 13 March 2009 | IDMSA | Hold | 15.80 | 13.41 |
| 17 February 2009 | IPOPEMA | Buy | 18.10 | 14.90 |
| 17 February 2009 | KBC Securities | Hold | 16.17 | 14.90 |
| 9 February 2009 | UniCredit | Hold | 16.00 | 15.29 |
| 6 February 2009 | UBS | Neutral | 15.00 | 14.25 |
| 25 January 2009 | IDMSA | Buy | 16.60 | 14.20 |
| 12 January 2009 | UniCredit | Buy | 16.00 | 14.00 |
2008
| Date | Company | Recommendation | Target price (PLN) | Share price on the recommendation date (PLN) |
|---|---|---|---|---|
| 28 November 2008 | KBC Securities | Buy | 16.72 | 14.00 |
| 26 November 2008 | DI BRE | Accumulate | 15.80 | 14.00 |
| 5 November 2008 | UniCredit | Buy | 16.00 | 13.90 |
| 22 October 2008 | IDMSA | Buy | 15.60 | 12.70 |
| 12 September 2008 | DI BRE | Buy | 16.70 | 14.30 |
| 28 July 2008 | IPOPEMA | Buy | 15.78 | 14.15 |
| 19 July 2008 | IDMSA | Buy | 18.30 | 13.90 |
| 19 July 2008 | UBS | Neutral | 16.00 | 14.00 |
| 17 July 2008 | UniCredit | Buy | 17.00 | 14.30 |
| 13 July 2008 | UniCredit | Buy | 16.90 | 13.70 |
| 13 July 2008 | IDMSA | Buy | 18.00 | 13.70 |
| 10 July 2008 | Espirito Santo | Buy | 16.00 | 13.50 |
| 10 July 2008 | IDMSA | Buy | 18.00 | 13.39 |
Last updated 05/08/2026