LHV Bank Initiates "Buy" Coverage for Eleving Group

Eleving Group recently announced that LHV Bank released an initiation report evaluating the company's business model, market strategy, and growth potential. The report, published on December 19, 2024, rates Eleving Group as a "Buy" and suggests a target price of EUR 2.20 per share. With the current share price at EUR 1.65 as of December 20, 2024, this represents a potential return of 39% over the next year.

The valuation gives Eleving Group a fair equity value of EUR 260 million. Despite acknowledging the higher risk associated with Eleving's operations, the report highlights the company's strong risk management and consistent profitability, which exceed industry averages. Eleving Group is thus considered a higher-risk, higher-reward investment in an undervalued market.