"Открытие Капитал": Global Ports – 2H11 IFRS review and target price upgrade // ДЕРЖАТЬ
27 марта 2012 года
We have upgraded our target price for Global Ports by 6% to $16.95/GDR on the back of stronger-than-expected 2H11 IFRS financials.
Target price upgrade, but still a HOLD. Based upon our new financial forecasts, we upgraded our target price for GP by 6% to $16.95/GDR (from $16.04/GDR). We see 15.7% upside potential for the stock. However, in the absence of positive short-term catalysts, and because of still valid concerns regarding GP’s oil products business, we retain our HOLD rating on Global Ports.
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