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Vedomosti (Moscow)- February 21, 2005
Brunswick UBS assigned a "Buy2" recommendation for RBC shares with a price forecast for the end of 2005 equal to USD3.9. "RBC is the only Russian public company providing investors with exposure to the domestic media and IT sectors," Brunswick UBS said. Brunswick analyst Elena Rogovina expects both these segments to grow ahead of Russia's gross domestic product. Amid favorable macroeconomic factors that benefit RBC business, it becomes of great importance that RBC's top management ensures strategic positioning and gradual achievement of its goals, Rogozina said. "The main concern here is whether the top management manages to do this or not," she added. RBC is a company with a professional team and a firm foothold on the market, which mainly concerns the TV project, Troika Dialog said. RBC shares are the only mass media stocks in Russia. The company has quite good prospects due to its market position. Therefore, Troika Dialog maintains a "hold" recommendation on RBC shares at a fair price of USD2.7 per share. Sovlink analysts point out that the recent restriction of alcohol advertising on TV in no way affected RBC TV's advertising revenue. Sovlink also adheres to a "hold" recommendation at a target price of USD2.9. On Friday, RBC shares traded at USD2.72-2.8.
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