http://www.finamrus.com/newtopics/news03B20/default.asp
Goldman Sachs (GS) has revised downward its target price for Gazprom's shares from $13.30 to $13.20, GS said in an equity research note. The Buy recommendation on the gas holding's securities was left unchanged. GS analysts adjusted the gas giant's valuation model taking into account a more conservative forecast for the gas holding's gas exports this year, the fact that its pension fund is no longer listed on its balance sheet and a contraction in Gazprom's treasury stocks. Be that as it may, Gazprom's stocks still hold substantial upside potential to the level GS analysts project, and they therefore reiterated their Buy recommendation.
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