11:34 GMT +314 November 2019
Listen Live
    Business

    Deutsche Bank Upgrades Ratings on Russian Oil and Gas Companies

    Business
    Get short URL
    0 32
    Subscribe

    Deutsche Bank revised forecasts upwards on Wednesday for several Russian oil and gas companies, following a review by the bank.

     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. 

     

    Tags:
    credit rating, Deutsche Bank AG, Tatneft, Gazprom
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik