RATINGS
Overview of breakdown in relative terms of our investment ratings (as of May 31st 2023)
| Number of recommendations | As percentage | |
| Buy | 75 | 61% |
| Hold | 20 | 16% |
| Sell | 27 | 22% |
| Coverage in transition | 0 | 0% |
| Restricted | 0 | 0% |
| Total | 122 |
History of rating regarding recommendation changes (last 12 months)
| Company | Date | Recommendation | Target Price | Actual Price | Analyst | Validity of Recommendation |
| IMC | 31 May 2023 | Hold | 18.28 PLN | 16.30 PLN | Krzysztof Kozieł | 30 May 2024 |
| LIVECHAT | 10 May 2023 | Buy | 166.5 PLN | 142.00 PLN | Emil Popławski | 10 May 2024 |
| R22 | 10 May 2023 | Buy | 100.7 PLN | 53.40 PLN | Emil Popławski | 10 May 2024 |
| VERCOM | 10 May 2023 | Buy | 64.8 PLN | 53.00 PLN | Emil Popławski | 10 May 2024 |
| WIRTUALNA | 10 May 2023 | Buy | 151.9 PLN | 114.40 PLN | Emil Popławski | 10 May 2024 |
| GRUPRACUJ | 10 May 2023 | Hold | 56.5 PLN | 54.10 PLN | Emil Popławski | 10 May 2024 |
| Nordex | 24 April 2023 | Hold | 12.40 EUR | 10.80 EUR | Marcin Górnik, Patryk Olszanowski, Damian Szparaga | 24 April 2024 |
| Siemens Energy | 24 April 2023 | Buy | 32.20 EUR | 21.21 EUR | Marcin Górnik, Patryk Olszanowski, Damian Szparaga | 24 April 2024 |
| TPI Composites | 24 April 2023 | Sell | 12.15 USD | 12.67 USD | Marcin Górnik, Patryk Olszanowski, Damian Szparaga | 24 April 2024 |
| Vestas | 24 April 2023 | Buy | 260.00 DKK | 187.00 DKK | ||
| RYVU | 14 April 2023 | Buy | 86.50 PLN | 58.40 PLN | Marcin Górnik | 14 April 2024 |
| KOGENERA | 11 April 2023 | Hold | 28.40 PLN | 27.40 PLN | Marcin Górnik | 11 April 2024 |
| CYFRPLSAT | 01 April 2022 | Buy | 20.40 PLN | 16.18 PLN | Konrad Musiał | 01 April 2023 |
| DIGI | 01 April 2022 | Hold | 39.40 RON | 35.00 RON | Konrad Musiał | 01 April 2023 |
| MAGYARTEL | 01 April 2022 | Buy | 578.00 HUF | 400.00 HUF | Konrad Musiał | 01 April 2023 |
| ORANGEPL | 01 April 2022 | Buy | 8.40 PLN | 6.84 PLN | Konrad Musiał | 01 April 2023 |
| TELEKOMAUT | 01 April 2022 | Buy | 8.50 EUR | 6.88 EUR | Konrad Musiał | 01 April 2023 |
| NEUCA | 06 April 2023 | Buy | 1000.00 PLN | 582.00 PLN | Dariusz Dziubiński | 05 April 2024 |
| EUROCASH | 30 March 2023 | Buy | 33.00 PLN | 17.20 PLN | Dariusz Dziubiński | 29 March 2024 |
| DINO | 30 March 2023 | Buy | 540.00 PLN | 385.30 PLN | Dariusz Dziubiński | 29 March 2024 |
| PKOBP | 24 March 2023 | Buy | 35.00 PLN | 27.56 PLN | Michał Fidelus | 23 March 2024 |
| SANPL | 24 March 2023 | Buy | 341.00 PLN | 272.8 PLN | Michał Fidelus | 23 March 2024 |
| MBANK | 24 March 2023 | Buy | 353.00 PLN | 281.2 PLN | Michał Fidelus | 23 March 2024 |
| INGBSK | 24 March 2023 | Buy | 184.00 PLN | 157.00 PLN | Michał Fidelus | 23 March 2024 |
| MILLENNIUM | 24 March 2023 | Buy | 5.10 PLN | 3.97 PLN | Michał Fidelus | 23 March 2024 |
| HANDLOWY | 24 March 2023 | Buy | 100.00 PLN | 81.30 PLN | Michał Fidelus | 23 March 2024 |
| BNPPPL | 24 March 2023 | Buy | 61.00 PLN | 49.40 PLN | Michał Fidelus | 23 March 2024 |
| CDPROJEKT | 22 March 2023 | Sell | 98.90 PLN | 116.46 PLN | Emil Popławski | 21 March 2024 |
| PKNORLEN | 14 March 2023 | Hold | 63.11 PLN | 59.98 PLN | Krzysztof Kozieł | 13 March 2024 |
| UNIMOT | 14 March 2023 | Buy | 137.61 PLN | 99.8 PLN | Krzysztof Kozieł | 13 March 2024 |
| 11BIT | 13 March 2023 | Buy | 700.7 PLN | 672 PLN | Emil Popławski | 12 March 2024 |
| CDPROJEKT | 13 March 2023 | Sell | 112.7 PLN | 132.18 PLN | Emil Popławski | 12 March 2024 |
| CREEPYJAR | 13 March 2023 | Buy | 1034.2 PLN | 835 PLN | Emil Popławski | 12 March 2024 |
| HUGE | 13 March 2023 | Buy | 34.5 PLN | 29.74 PLN | Emil Popławski | 12 March 2024 |
| PCFGROUP | 13 March 2023 | Sell | 33.8 PLN | 36.55 PLN | Emil Popławski | 12 March 2024 |
| PLAYWAY | 13 March 2023 | Hold | 479.5 PLN | 458.5 PLN | Emil Popławski | 12 March 2024 |
| TSGAMES | 13 March 2023 | Sell | 118.8 PLN | 129.4 PLN | Emil Popławski | 08 March 2024 |
| BENEFIT SYSTEMS | 09 March 2023 | Buy | 2000.00 PLN | 1005.00 PLN | Dariusz Dziubiński | 08 March 2024 |
| LIVECHAT | 09 February 2023 | Buy | 189.40 PLN | 126.00 PLN | Emil Popławski | 09 February 2024 |
| XTB | 23 January 2023 | Hold | 37.00 PLN | 32.82 PLN | Michał Fidelus | 23 January 2024 |
| PEPCO | 09 January 2023 | Hold | 45.00 PLN | 41.14 PLN | Dariusz Dziubiński | 09 January 2024 |
| LPP | 09 January 2023 | Buy | 14500.00 PLN | 11190.00 PLN | Dariusz Dziubiński | 09 January 2024 |
| LW Bogdanka | 03 January 2023 | Buy | 98.90 PLN | 49.92 PLN | Tomasz Duda | 03 January 2024 |
| JERONIMO | 08 December 2022 | Buy | 25.00 EUR | 20.60 EUR | Dariusz Dziubiński | 08 December 2023 |
| EUROCASH | 08 December 2022 | Buy | 20.00 PLN | 13.30 PLN | Dariusz Dziubiński | 08 December 2023 |
| DINO | 08 December 2022 | Buy | 460.00 PLN | 351.00 PLN | Dariusz Dziubiński | 08 December 2023 |
| BENEFIT SYSTEMS | 08 December 2022 | Buy | 1400.00 PLN | 610.00 PLN | Dariusz Dziubiński | 08 December 2023 |
| PKNORLEN | 02 December 2022 | Buy | 86.68 PLN | 68.24 PLN | Krzysztof Kozieł | 02 December 2023 |
| MOL | 02 December 2022 | Buy | 3525.00 HUF | 2836 HUF | Krzysztof Kozieł | 02 December 2023 |
| OMV | 02 December 2022 | Buy | 65.25 EUR | 48.92 EUR | Krzysztof Kozieł | 02 December 2023 |
| OMV PETROM | 02 December 2022 | Buy | 0.68 RON | 0.46 RON | Krzysztof Kozieł | 02 December 2023 |
| MOTOROIL | 02 December 2022 | Buy | 25.00 EUR | 20.00 EUR | Krzysztof Kozieł | 02 December 2023 |
| HELLENIQ | 02 December 2022 | Buy | 8.71 EUR | 7.21 EUR | Krzysztof Kozieł | 02 December 2023 |
| GRUPAAZOTY | 02 December 2022 | Sell | 30.79 PLN | 37.20 PLN | Krzysztof Kozieł | 02 December 2023 |
| YARA | 02 December 2022 | Buy | 549.00 NOK | 450.00 NOK | Krzysztof Kozieł | 02 December 2023 |
| CIECH | 02 December 2022 | Buy | 59.19 PLN | 41.14 PLN | Krzysztof Kozieł | 02 December 2023 |
| PGE | 02 December 2022 | Buy | 7.70 PLN | 6.47 PLN | Marcin Górnik | 02 December 2023 |
| TAURONPL | 02 December 2022 | Buy | 3.40 PLN | 2.041 PLN | Marcin Górnik | 02 December 2023 |
| ENEA | 02 December 2022 | Buy | 7.20 PLN | 5.81 PLN | Marcin Górnik | 02 December 2023 |
| PEP | 02 December 2022 | Hold | 92.20 PLN | 91 PLN | Marcin Górnik | 02 December 2023 |
| ZEPAK | 02 December 2022 | Hold | 22.40 PLN | 21.45 PLN | Marcin Górnik | 02 December 2023 |
| PKOBP | 30 November 2022 | Buy | 39.00 PLN | 28.60 PLN | Michał Fidelus | 30 November 2023 |
| SANPL | 30 November 2022 | Buy | 331.00 PLN | 269.60 PLN | Michał Fidelus | 30 November 2023 |
| MBANK | 30 November 2022 | Buy | 424.00 PLN | 314.00 PLN | Michał Fidelus | 30 November 2023 |
| INGBSK | 30 November 2022 | Buy | 192.00 PLN | 164.60 PLN | Michał Fidelus | 30 November 2023 |
| MILLENNIUM | 30 November 2022 | Buy | 5.70 PLN | 4.70 PLN | Michał Fidelus | 30 November 2023 |
| HANDLOWY | 30 November 2022 | Buy | 93.00 PLN | 72.30 PLN | Michał Fidelus | 30 November 2023 |
| BNPPPL | 30 November 2022 | Hold | 62.00 PLN | 56.20 PLN | Michał Fidelus | 30 November 2023 |
| Rainbow Tours | 30 November 2022 | Hold | 20.50 PLN | 19.30 PLN | Dariusz Dziubiński | 30 November 2023 |
| BLOOM | 28 November 2022 | Buy | 27.58 USD | 22.11 USD | Damian Szparaga | 28 November 2023 |
| ITM | 28 November 2022 | Sell | 73.05 GBx | 97.72 GBx | Damian Szparaga | 28 November 2023 |
| NEL | 28 November 2022 | Sell | 7.56 NOK | 14.855 NOK | Damian Szparaga | 28 November 2023 |
| SCORPIO | 28 November 2022 | Buy | 70.00 USD | 52.60 USD | Patryk Olszanowski | 28 November 2023 |
| FLNG | 28 November 2022 | Buy | 44.30 USD | 36.80 USD | Patryk Olszanowski | 28 November 2023 |
| MAERSK | 28 November 2022 | Sell | 13830.00 DKK | 15495.00 DKK | Patryk Olszanowski | 28 November 2023 |
| STARBULK | 28 November 2022 | Sell | 17.90 USD | 21.50 USD | Patryk Olszanowski | 28 November 2023 |
| ALBEMARLE | 28 November 2022 | Sell | 205.90 USD | 272.82 USD | Patryk Olszanowski | 28 November 2023 |
| BUDIMEX | 28 November 2022 | Buy | 313.00 PLN | 263.50 PLN | Tomasz Duda | 28 November 2023 |
| ERBUD | 28 November 2022 | Buy | 41.69 PLN | 28.75 PLN | Tomasz Duda | 28 November 2023 |
| TORPOL | 28 November 2022 | Buy | 21.20 PLN | 16.08 PLN | Tomasz Duda | 28 November 2023 |
| UNIBEP | 28 November 2022 | Hold | 8.54 PLN | 8.12 PLN | Tomasz Duda | 28 November 2023 |
| LIVECHAT | 09 November 2022 | Buy | 129.50 PLN | 104.40 PLN | Emil Popławski | 09 November 2023 |
| R22 | 09 November 2022 | Buy | 45.50 PLN | 36.80 PLN | Emil Popławski | 09 November 2023 |
| VERCOM | 09 November 2022 | Hold | 39.80 PLN | 39.70 PLN | Emil Popławski | 09 November 2023 |
| WIRTUALNA | 09 November 2022 | Sell | 86.40 PLN | 102.00 PLN | Emil Popławski | 09 November 2023 |
| GRUPRACUJ | 09 November 2022 | Sell | 39.70 PLN | 52.10 PLN | Emil Popławski | 09 November 2023 |
| KOGENERACJA | 08 November 2022 | Hold | 28.00 PLN | 25.70 PLN | Marcin Górnik | 08 November 2023 |
| ALLEGRO | 02 November 2022 | Sell | 19.10 PLN | 23.20 PLN | Konrad Musiał | 02 November 2023 |
| INPOST | 02 November 2022 | Hold | 6.60 PLN | 6.46 PLN | Konrad Musiał | 02 November 2023 |
| SHOPER | 02 November 2022 | Sell | 29.70 PLN | 32.40 PLN | Konrad Musiał | 02 November 2023 |
| ANSWEAR | 02 November 2022 | Hold | 21.90 PLN | 19.66 PLN | Konrad Musiał | 02 November 2023 |
| ZALANDO | 02 November 2022 | Sell | 21.20 PLN | 23.34 PLN | Konrad Musiał | 02 November 2023 |
| BOGDANKA | 21 October 2022 | Buy | 44.10 PLN | 21.12 PLN | Tomasz Duda | 21 October 2023 |
| KĘTY | 21 October 2022 | Hold | 533.80 PLN | 464.00 PLN | Tomasz Duda | 21 October 2023 |
| KGHM | 21 October 2022 | Sell | 82.10 PLN | 88.54 PLN | Tomasz Duda | 21 October 2023 |
| JSW | 21 October 2022 | Buy | 53.70 PLN | 36.36 PLN | Tomasz Duda | 21 October 2023 |
| GPW | 03 October 2022 | Sell | 30,00 PLN | 32,90 PLN | Michał Fidelus | 03 October 2023 |
| UNIQA | 23 September 2022 | Buy | 8,21 PLN | 6,62 PLN | Jerzy Kosiński | 23 September 2023 |
| VIG | 23 September 2022 | Sell | 25,36 PLN | 22,6 PLN | Jerzy Kosiński | 23 September 2023 |
| HUGE | 22 September 2022 | Buy | 30,70 PLN | 22,44 PLN | Emil Popławski | 22 September 2023 |
| CREEPYJAR | 22 September 2022 | Buy | 771,60 PLN | 604,00 PLN | Emil Popławski | 22 September 2023 |
| 11BIT | 22 September 2022 | Buy | 628,00 PLN | 529,00 PLN | Emil Popławski | 22 September 2023 |
| PLAYWAY | 22 September 2022 | Sell | 246,90 PLN | 269,00 PLN | Emil Popławski | 22 September 2023 |
| PCFGROUP | 22 September 2022 | Sell | 41,20 PLN | 45,90 PLN | Emil Popławski | 22 September 2023 |
| TSGAMES | 22 September 2022 | Sell | 91,70 PLN | 110,80 PLN | Emil Popławski | 22 September 2023 |
| CDPROJEKT | 22 September 2022 | Sell | 72,30 PLN | 88,90 PLN | Emil Popławski | 22 September 2023 |
| PGE | 21 September 2022 | Buy | 11,20 PLN | 6,70 PLN | Marcin Górnik | 21 September 2023 |
| TAURONPL | 21 September 2022 | Buy | 5,90 PLN | 2,30 PLN | Marcin Górnik | 21 September 2023 |
| ENEA | 21 September 2022 | Buy | 9,10 PLN | 7,70 PLN | Marcin Górnik | 21 September 2023 |
| PEP | 21 September 2022 | Hold | 99,00 PLN | 95,00 PLN | Marcin Górnik | 21 September 2023 |
| ZEPAK | 21 September 2022 | Buy | 31,30 PLN | 23,40 PLN | Marcin Górnik | 21 September 2023 |
| CEZ | 21 September 2022 | Buy | 1170,00 CZK | 956,00 CZK | Marcin Górnik | 21 September 2023 |
| VERBUND | 21 September 2022 | Buy | 114,00 EUR | 90,40 EUR | Marcin Górnik | 21 September 2023 |
| IMC | 16 September 2022 | Buy | 22,56 PLN | 17,00 PLN | Krzysztof Kozieł | 16 September 2023 |
| PCC Rokita | 24 August 2022 | Buy | 92,38 PLN | 77,10 PLN | Krzysztof Kozieł | 24 August 2023 |
| XTB | 07 July 2022 | Buy | 26,00 PLN | 21,10 PLN | Michał Fidelus | 07 July 2023 |
| IMC | 05 July 2022 | Sell | 13,33 PLN | 17,30 PLN | Krzysztof Kozieł | 16 September 2022 |
| COMARCH | 04 July 2022 | Sell | 150,3 PLN | 167,8 PLN | Emil Popławski | 04 July 2023 |
| ASSECOSEE | 04 July 2022 | Buy | 49,5 PLN | 38,3 PLN | Emil Popławski | 04 July 2023 |
| ASSECOPOL | 04 July 2022 | Sell | 69,6 PLN | 69,6 PLN | Emil Popławski | 04 July 2023 |
| STS Holding | 24 June 2022 | Buy | 18,50 PLN | 15,20 PLN | Michał Fidelus | 24 June 2023 |
| TSGAMES | 08 June 2022 | Sell | 92,00 PLN | 115,90 PLN | Emil Popławski | 22 September 2022 |