Polski Dom Maklerski [Polish Brokerage House]: TIM – Cheap and Wisely, the undervalued company
Polski Dom Maklerski in the report of March 20, 2018, recommends BUY for the shares of TIM. As the report says, “in spite of the recent strengthening of the currency, the company is still undervalued.” The target price of a share was indicated as PLN14.86 with the current exchange rate at PLN8.62.
“TIM – Cheap and Wisely. This is how we perceive investments in TIM’s securities, at the same time disagreeing with their low valuation and noticing wise changes within the company in recent years,” reads the PDM’s report. In 2018, the analysts expect PLN30.7 million EBITDA and PLN13.2 million net profit of the Capital Group.
To compare TIM SA with Grodno SA – the second distributor of electrotechnics listed on the Warsaw Stock Exchange – the analysts of PDM say: “We believe that all the analysed companies have an interesting perspective of growth ahead of them (especially with regard to the current growth in the area). At the moment we tend to expect more of TIM, whose potential of growth has not yet been discounted by the market”
The full report (in Polish) is available on the website of Polski Dom Maklerski S.A.