Gazprombank raised the target price on Rosneft shares at once by 30 percent to 10.1 dollars per GDR, exposing the highest target price from all investment banks. This is stated in the analytical report of the investment division of the credit institution.
The report notes that Rosneft has added 30 percent of capitalization since the beginning of the year and, in the opinion of analysts of the Bank, has the significant potential for further growth in quotations in connection with the implementation of the East Oil project. Growth potential is another 38 percent from the current level.
POSSIBILITIES OF ROSNEFTI GROW POSSIBILITIES The highest among oil companies of the Russian Federation. Therefore, Gazprombank included the oil of the oil company to the list of most preferred investment objects.
In turn, the investment company “Veles” also raised the target price of Rosneft shares by 25 percent to 745 rubles per share (growth potential from current quotations 35 percent). According to analysts investmentary, the growth of Rosneft quotes in the previous months was associated both with an increase in oil prices, and with the market awareness of the East Oil project. As a result of the inclusion of new data in the “Veles” model, the target price of Rosneft shares was raised, but also confirmed the recommendation to “buy”.