Bank Of America Sees Regulatory Headwinds Gaining Momentum For CTC Media, Inc.

In a report published Wednesday, Bank of America analyst Victor Dima reiterated a Neutral rating and $11.00 price target on

. In the report, Bank of America noted, “Yesterday, parliament passed the first reading of a draft law, capping foreign ownership in Russia's media companies at 20%, potentially to include indirect holdings. If approved, the draft may be enforced from 1 January 2016, giving media companies one more year to meet the requirements. The current draft of the law states that restrictions will apply to companies licensed as mass media (TV, radio, print and a number of internet projects).” CTC Media, Inc. closed on Tuesday at $8.84.