Currency converter
All news
News Search Topics
Use filter
You can filter your feed,
by choosing only interesting

Goldman Sachs revises target prices of Russia’s MTS, MegaFon GDR

May 29, 2014, 15:42 UTC+3 MOSCOW

Goldman Sachs reduced the target price of MTS’ GDR by 6% to $24.9

1 pages in this article
© ITAR-TASS/Mikhail Dzhaparidze

MOSCOW, May 29. /ITAR-TASS/. US-based commercial bank Goldman Sachs has revised target prices of Global Depository Receipts (GDR) of two major Russian cellular operators, MTS and MegaFon, the bank said in a research note on Thursday.

Goldman Sachs reduced the target price of MTS’ GDR by 6% to $24.9 that implies a potential growth by 35% from the current level of quotes.

The target price of MegaFon’s GDR was raised by 16% to $40.3 that implies a potential growth of 40%.

The recommendation for GDRs of the both operators was confirmed at “buy”.

MTS renders services in Russia, Belarus, Turkmenistan, and Ukraine. Vladimir Yevtushenkov’s multi-industry holding AFK Sistema owns 51.46% in MTS, while 48.54% are in a free float on the Moscow Exchange and the New York Stock Exchange.

Holding Garsdale, controlled by Alisher Usmanov’s USM Holdings, owns 50% plus 100 shares in MegaFon; Swedish-Finnish TeliaSonera company owns 25.17% in the operator; Megafon Investments Ltd., a 100%-owned unit of MegaFon, holds 7.57%. CEO Ivan Tavrin’s Anfimako Ltd. owns 2.50% in the operator, while 14.7% of shares are in a free float.

Show more
In other media
Partner News