UPDATE: Credit Suisse Upgrades Mobile TeleSystems as Some Risks Have Materialized

In a report published Wednesday, Credit Suisse analyst Olga Bystrova upgraded the rating on Mobile TeleSystems MBT from Underperform to Neutral, but lowered the price target from $20.00 to $19.00. In the report, Credit Suisse noted, “Upgrade to Neutral from Underperform as one of the risks we highlighted in our note ‘Russian Mobile - Downgrading on risks in 2014-15E' – weaker growth outlook manifested in guidance downgrade – materialised. Slightly higher capex guidance in addition to further FX weakening YTD is the main reason for our TP decrease to US$19 from US$20. The stock is down 16% YTD and is now trading at more attractive levels. However, our concerns over increasing competition risks and continued macro uncertainty warrants a Neutral rating.” Mobile TeleSystems closed on Tuesday at $17.50.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorUpgradesAnalyst RatingsCredit SuisseOlga Bystrova
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!