Erste Group initiates equity research coverage on LHV Group

Erste Group Bank AG, one of Central and Eastern Europe’s largest banking groups, has initiated equity research coverage on LHV Group, Estonia’s largest domestic financial group and capital provider. In its initiation report, Erste Group assigned LHV Group a 'Buy' rating and set a 12-month target price of EUR 4.40 per share. The rating and forecasts reflect Erste Group’s independent analysis as of the report’s date and are subject to change. The coverage broadens LHV Group’s analyst visibility, joining Swedbank as the second equity research provider tracking the company. Erste Group’s report, along with future updates, will be available on LHV Group’s investor relations website. The research is sponsored by LHV Group but prepared independently using publicly available information, with no access to insider data. LHV Group operates through subsidiaries including LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited, serving over 500,000 banking customers, 105,000 pension fund clients, and 240,000 insurance policyholders. The group employs nearly 1,200 people and holds a UK banking license, offering services to fintech firms, SMEs, and retail clients. Investors are advised to review the full report, including assumptions, risk factors, and disclosures, before making decisions. The announcement clarifies that Erste Group’s views do not represent those of LHV Group or its management. Contact for investor relations is Sten Hans Jakobsoo at [email protected], while communications inquiries can be directed to Paul Pihlak at [email protected].