Erste Group initiates equity research coverage on LHV Group

Erste Group Bank AG, one of the largest banking groups in the Central and Eastern European (CEE) region, has initiated sponsored research of AS LHV Group and published its initiation report. 

According to the report, Erste Group has assigned LHV Group a Buy rating and a 12-month target price of EUR 4.40 per share. The rating, target price, estimates, forecasts and other analytical conclusions are solely those of Erste Group as at the date of the report and may be changed or withdrawn by Erste Group.

The initiation of coverage by Erste Group broadens the analyst coverage of LHV Group, supporting greater visibility among the international investment community. Following this initiation, LHV Group is covered by two equity research providers (Erste Group and Swedbank).

The Erste Group initiation report, as well as subsequent research updates, will be made available on the LHV Group investor relations website: https://investor.lhv.ee/en/shares/.

Important Notice:

Erste Group research coverage is sponsored by LHV Group. The report has been prepared independently by Erste Group and is based on publicly available information. LHV Group has not provided Erste Group with inside information for the preparation of the report. The analytical conclusions, including the investment recommendation and target price, represent the views of Erste Group and do not represent the views, estimates or forecasts of LHV Group or its management. This announcement is a summary and an extract of the report. It does not constitute an investment recommendation or investment advice by LHV Group, nor does it constitute an offer to sell or a solicitation to buy or sell securities of LHV Group. Investors should make their investment decisions independently and should read the full report, including the assumptions, risk factors and conflict-of-interest disclosures contained therein.

LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s main subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus and LHV Bank Limited. The Group employs nearly 1,200 people. As of the end of April, LHV’s banking services are used by more than 500,000 customers, LHV-managed II pillar pension funds have over 105,000 active customers and LHV Kindlustus provides insurance protection to 240,000 customers. LHV Bank, a subsidiary of LHV Group, holds a UK banking licence and offers banking services to international financial technology companies, loans to small and medium-sized enterprises and retail banking services.

Investor Relations

Sten Hans Jakobsoo

Head of Investor Relations and Corporate Development

Email: [email protected]

Communications

Paul Pihlak

Head of Communications

Email: [email protected] 

Attachment

• Erste Group – LHV Group – Equity Research Initiation Report