IPOPEMA Initiates Coverage of Šiaulių Bankas with a Buy Rating and a Target Price of EUR 1.20

On March 19, 2025 IPOPEMA, a leading independent investment bank in Poland, announced the initiation of equity research coverage (sponsored) on Šiaulių Bankas with a "Buy" rating and a target price of EUR 1.20 per share. This target price represents a compelling 28% upside potential over the bank’s current market valuation.

IPOPEMA's analysis highlights Šiaulių Bankas's distinct market position, serving clients across the size spectrum while strategically focusing on the underserved SME segment. This niche is often overlooked by larger, risk-averse institutions. The robust Lithuanian macroeconomic environment is expected to drive strong volume growth across all sectors. While the bank's ongoing rebranding and implementation of a new software platform may result in a temporary decline in net profit this year due to strategic investments and falling interest rates, these initiatives are expected to fuel long-term growth.

IPOPEMA is a leading independent investment bank in Poland, providing a wide range of financial services, including investment banking, brokerage and asset management. With a strong track record in capital market transactions and a commitment to delivering value to its clients, IPOPEMA is a trusted partner for international companies accessing Polish investors as well as global Emerging Market investors.

"We welcome IPOPEMA's initiation of research coverage and are very excited about it. As we continue to strengthen our investor engagement, we believe their renowned expertise in the CEE Banking sector will provide invaluable insights and analysis, significantly benefiting our existing and potential investors," says Tomas Varenbergas, Head of Investment Management Division at Šiaulių Bankas.

Šiaulių Bankas is also covered by Enlight Research, Erste Group, Norne Securities, Swedbank and WOOD & Company. The research reports are available to investors on Šiaulių Bankas' .

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Important Notice:

IPOPEMA reports are prepared on behalf of Šiaulių Bankas and based on publicly available information. Reports are published for informational purposes only and do not constitute, and shall not be deemed to constitute, an investment recommendation to buy, sell or enter into any other transactions in respect of the shares of Šiaulių Bankas. The information provided may not form the basis of any subsequent transaction. Investors themselves are responsible for making investment decisions based on the information published.

Additional information: 

Tomas Varenbergas 

Head of Investment Management Division