http://www.finamrus.com/newtopics/news038B9/default.asp
Investment bank Credit Suisse has lifted its target price for Rosneft's equities from $9.75 to $10.10, the bank's analysts said in a note. The Hold recommendation on the stock was reiterated. CS analysts adjusted their valuation model of Rosneft taking into account their new forecasts for this oil producer that reflect the assets it acquired from Yukos. CS experts raised their forecast for Rosneft's EBITDA 5% to $10,341 mln in 2007 and 12% to $12,484 mln in 2008. Meanwhile, Rosneft's EPS (earnings per share) forecast was lowered 5% to $0.49 in 2007 and upgraded 10% to $0.67 in 2008. Notwithstanding that Rosneft's upside potential to the level targeted by CS analysts is currently around 30%, experts reiterated their Hold recommendation. They believe that right now top picks are Novatek and Lukoil. The target price for Lukoil shares is $112.00 and $7.90 for Novatek securities. Both issuers are rated as a Buy.
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