Analysts’ predictions

In early 2025, “buy” recommendations prevailed. In January 2025, the average target price from analyst valuations was more than 12% above PZU’s share price. In the following months, the stock’s valuation grew much faster than the target prices, which influenced the growing number of “hold” recommendations. In the middle of the year, the market valuation of PZU’s shares was several percent above the average recommendation. In the second half of 2025, analysts’ expectations rose steadily, against the backdrop of recorded elevated volatility on PZU shares. In December 2025, the difference between the average target prices from the recommendations and PZU’s share price was 0.3%.