Espirito Santo increased the target price to PLN 18 andcontinues recommending buying shares

In the report of 21 August, analysts of Espirito Santo Investment Bank, sustained recommendation "buy" for Kredyt Inkaso and increased the target price of shares from PLN 17.5 to PLN 18. They are of the opinion that the company's income from sales will amount to PLN 135.8 million, EBITDA - PLN 63.6 million and the net profit PLN 27.9 million.


"We sustain recommendation "buy" for shares of Kredyt Inkaso, based on an anticipated 49 percent increase in the net profit in the financial year 2012/2013, contrasting with low ratios for shares: Price Earnings Ratio for 2012 (P/E) - 6.8, Price to Book Value at the end of the financial year (P/BV) - 1.1 and 18 percent - Return on Equity (ROE). Last year, the company completed the largest purchases of NPL portfolios, at present it plans to purchase foreign NPL portfolios and launch non-cash loans. We believe that the company's shares price has potential for further growth, thus we sustain our recommendation "buy" and increase the target price from PLN 17.50 to PLN 18" - analysts wrote in the report.

pdf 2012.08.21 Kredyt Inkaso On the growth track.pdf 0,75 MB