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PKO BP Securities

Start of Coverage: 30-11-2015

Resume of the last report made by this analyst

We are upgrading our recommendation to BUY and raising our target price to EUR 20.9 per share. Our updated valuation takes into account the financial rebound in Poland from 2Q21 onwards due to strong consumer recovery, supported by a wave of social spending and business improvement in Portugal.

Analyst: Adrian Skłodowski

e-mailadrian.sklodowski@pkobp.pl

The information presented refers to recommendations issued by analysts that follow the Jerónimo Martins share. For more information, please read the Analysts Coverage section in this website’s Terms and Conditions.