LHV Bank Ups Target Price for Eleving Group Shares

Eleving Group has announced that LHV Bank published an independent Results Review on February 28, 2025, analyzing the Group's performance for Q4 2024. This review led to an increase of Eleving Group's target share price to EUR 2.35, with a "Buy" recommendation.

The updated target price suggests a 7.1x 2025E P/E ratio, aligning with the valuation of similar consumer finance companies, which currently trade around 7x forward earnings. Consequently, Eleving Group's fair equity value is estimated at EUR 275 million.

Eleving Group has established a noticeable presence globally, operating in 16 markets across 3 continents since its inception in Latvia in 2012. With a diverse loan portfolio and significant customer base, the Group continues to encourage financial inclusion worldwide.