UTair's sound FY 2007 financials, coupled with more clarity about its future aircraft fleet and its ambitious development program aimed at sustaining high growth rates in passenger shipments and helicopter operations, serve as un upside driver for its shares.
Before the airline discloses its consolidated financials, we reiterate our BUY recommendation on UTair common shares. We estimate the fair value of the stock at USD 1.16 per share towards the year-end, which implies a 49% upside potential.
Vladimir Sergievskiy
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Sector:
Transportation
Company:
UTair
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