MOSCOW, April 2 (PRIME/RIA Novosti) - Deutsche Bank revised forecasts upwards on Wednesday for several Russian oil and gas companies, following a review by the bank.
Specifically, Gazprom and Tatneft shares were upgraded from "hold" to "buy." Gazprom's forecast share price was revised upwards by 17 percent from 145 to 170 roubles per share, and 4 percent for Tatneft from 230 to 240 roubles per share.
The following shares with a confirmed "buy" status have also received a forecast price upgrade: 9% for LUKOIL, 4% for Surgutneftegaz, 11% for Gazprom Neft and 5% for Bashneft. Rosneft shares were given a "sell" status, with a 13% increase in the forecast.
The upbeat outlook of Deutsche Bank seems to be following the logic of Germany's Chancellor Angela Merkel, who has publically stated that economic sanctions against Russia are not an option and that economic ties should not fall victim to political disagreements.