UBS cuts Russia’s Gazprom, Novatek ADR target prices

UBS has reduced target prices for Gazprom’s American Depositary Receipts (ADRs) by 25% to U.S. $7, which is 7% higher than the last closing price and for Novatek’s ADRs by 16% to $135, implying a 31% growth potential , UBS said in a statement on March 14, Prime has reported. The recommendation for Gazprom ADRs was kept at “Hold” and for Novatek at “Buy”.

Copyright: Prime, 2014