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Deutsche Bank raises target price of Russia’s MTS ADR by about 2%

September 01, 2014, 14:14 UTC+3 MOSCOW
The bank’s analysts decreased the target price of MTS’ common shares by 0.6% to 337 rubles that implies a potential growth by 20% from the current level of quotes
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© EPA/FRANCK ROBICHON

MOSCOW, September 01. /ITAR-TASS/. Deutsche Bank revised up on Monday the target price of American Depository Receipts (ADRs) of Russian mobile operator MTS by 1.5% to $20 with a potential growth by 8% from the current level of quotes, according to the bank’s review.

The recommendation was degraded to “hold” from “buy”.

The bank’s analysts decreased the target price of MTS’ common shares by 0.6% to 337 rubles that implies a potential growth by 20% from the current level of quotes. The “buy” recommendation was confirmed.

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.

 

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