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Wimm-Bill-Dann: disappointing 1H 2008 results
We see WBD’s current valuation as somewhat low. Wimm- Bill-Dann now trades with a forward EV / Sales ratio of 1.0 and an EV / EBITDA ratio of 7.9, compared to 1.2 and 11.91 for its emerging market peers, implying discounts of 20% and 45%... 

02.09.08

M.Video: updated target price
We have upgraded our target price for M.Video stock. We increased the target price to USD 9.03 (+14.2%) from the previous USD 7.91. We recommend Buy.... 

22.08.08

Magnit: fundamentally undervalued
We used the DCF method as a basic method for determining value. We have made the appropriate changes to the company’s financial model. We factored in the reduced hypermarkets and increased convenient stores for 2008. Additionally, we have increased our forecast for the retailer’s revenue in 2008 due to higher-than-expected LFL figures. On the basis of our assessment, the price target for the company’s common shares is USD 60.34, a 42% upside. We also recommend Buy... 

07.08.08

FSK: RAO reincarnated
Our year-end target price for FSK is USD 0.03 and we recommend Buy... 

05.08.08

Pharmacy Chain 36.6: poor results in 2007, promising new strategy
We updated our DCF model for Pharmacy Chain 36.6 and downgraded the target price from USD 78.05 to USD 51.75... 

Archive

Daily Russian market watch
Rising oil prices should have a favorable impact on the Russian market; however, it might not be enough as investor apprehension is at an all-time high... 

22.09.08

Daily Russian market watch
Russian markets responded to the challenge as well as the emergency measure to maintain liquidity, with explosive growth. However, volatility was off the charts... 

16.09.08

Daily Russian market watch
As for Russia, despite extremely cheap equity assets, one should not look to the government for support in the face of the ongoing financial crisis... 

15.09.08

Daily Russian market watch
Despite the uncertainty at the beginning of the day, the RTS on Friday finally closed in the green at 1,341.75 points, gaining 3.36%... 

12.09.08

Daily Russian market watch
Yesterday’s fairly optimistic bidding at opening was "interrupted" by Finance Minister Kudrin’s statements regarding the prospects for the Russian economy... 

Archive

East Kommerts to support development of NAUFOR code
Members of the National Stock Market Association (NAUFOR), the US Financial Market Service, and the US International Development Agency signed a memorandum of understanding intended to support the development of NAUFOR’s professional standard code ...

IG East Kommerts ranks among TOP20 biggest Russia’s brokers
IG East Kommerts (IC East Capital) ranks number 17th among the biggest Russia’s brokers as of 2007, according to RBC Rating. In 2006 East Kommerts occupied a position among the largest investment companies in turnover terms, too...

IG East Kommerts awarded Prize of Honor for effective investment policy
IG East Kommerts has been awarded the first regional Prize of Honor (Kaliningrad) for its effective investment policy...

Alexander Fetisov secured his leading position in Top 10 of the best securities market analysts second year in row
On the 26th of November «RBC Daily» newspaper published fourth annual rating “The best analysts at the securities market”. Head of Analytical department of “East Capital” investment company Alexander Fetisov secured his leading position in Top 10...

East Kommerts Investment Group is the new name of investment company East Capital
Development of EAST Capital Investment company and Kazkommerzbank strategic partnerhip has resulted in establishment of East Kommerts Investment Group...