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Polski Dom Maklerski about TIM SA: we are reiterating the “buy” rating, lower valuation due to the risk of recession

“We maintain our positive attitude towards the electrical distribution sector in the medium term, while recognizing the long-term risks that we believe are largely included in the valuations”, write analysts of Polski Dom Maklerski in the report of July 31, 2018. For 2020, they forecast revenues exceeding PLN 1.1 billion.

PDM currently indicates PLN12.16 as the target share price, reiterating the “buy” rating.