Estonia Undervalued over 20% based on DCF

AS LHV Group

Market Cap: €1.2b

Provides various banking products and services to private and business customers in Estonia and the United Kingdom.

AS Tallinna Sadam

Market Cap: €368.7m

Provides port services in the Republic of Estonia, Canada, and Great Britain.

AS Silvano Fashion Group

Market Cap: €42.7m

Through its subsidiaries, engages in the design, manufacturing, and distribution of women’s lingerie in Estonia, Russia, Belarus, Ukraine, the Baltics, Kazakhstan, Moldova, and internationally.

Bercman Technologies

Market Cap: €2.1m

Engages in the development and sale of smart city and mobility-related technologies and products.