UPDATE: Deutsche Bank Initiates Coverage On Qiwi
In a research note released Monday, Deutsche Bank analyst Bob Kommers initiated coverage on Qiwi (NASDAQ: QIWI) with a buy rating and a $60 price target.
The analyst expects Qiwi to win and gain Russia's market share for its e-payment system. Qiwi is also benefiting from the transition from physical stores to online stores.
The company has also gained market share in the following categories: loan repayment, remittance and e-commerce market, and this should increase CAGR by 31 percent.
Shares traded recently at $43.60, up 3.6 percent.
Latest Ratings for QIWI
|Jul 2014||JP Morgan||Maintains||Overweight|
|Jul 2014||Deutsche Bank||Initiates Coverage on||Buy|
|May 2014||Standpoint Research||Downgrades||Buy||Hold|
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