Recommendations and market consensus

Recommendations

2024

DateCompanyRecommendationTarget price
(PLN)		Share price on
the recommendation
date (PLN)
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

DateCompanyRecommendationTarget 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

DateCompanyRecommendationTarget 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

DateCompanyRecommendationTarget 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

DateCompanyRecommendationTarget 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

DateCompanyRecommendationTarget 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

DateCompanyRecommendationTarget 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

DateCompanyRecommendationTarget 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

DateCompanyRecommendationTarget 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

DateCompanyRecommendationTarget 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

DateCompanyRecommendationTarget 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

DateCompanyRecommendationTarget 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

DateCompanyRecommendationTarget 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

DateCompanyRecommendationTarget 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

DateCompanyRecommendationTarget 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

DateCompanyRecommendationTarget 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

DateCompanyRecommendationTarget 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

Market consensus

Market consensus

million PLN202420252026number of forecasts
Revenues 14.131 14.712 15.286 10
EBITDA 3,466 3.571 3.837 10
EBITDA Margin 25% 24% 25% 10
Net profit 564 703 932 10

The analysts' estimates are exclusively based on the analyses of financial analysts who are independent from Cyfrowy Polsat. Any opinions, forecasts, estimates, projections or predictions regarding Cyfrowy Polsat's performance (ultimately represented by the figures of the consensus estimates) given by the analysts only reflect their view and do not represent the opinions, forecasts, estimates, projections or predictions of Cyfrowy Polsat or its management.

Based on estimates made by: Biuro maklerskie mBanku, Biuro Maklerskie Pekao, DM BOŚ, Dom Maklerski BDM S.A., Erste, Ipopema, PKO BP Securities, Santander Biuro Maklerskie, Trigon, Wood&Co

Last update November 26, 2024

Last updated 01/22/2025