Following its reorganization, UES of Russia, the main blue chip company in the power utilities industry, is to be replaced by several companies, including RusHydro (also known as HydroOGK), rated as one of the most attractive assets in the industry. The company has managed to set up a dialogue with investors and has the potential to emerge as the main beneficiary of the industry’s deregulation, prepared to instantly react to external challenges.
As a result of our valuation of the company’s fair value under the DCF method, we assign a BUY recommendation on its shares and set our target price for the shares at USD 0.114 per share as of year-end 2008.
Konstantin Reily
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Sector:
Power Utilities,
Heat Generation
Company:
All Research Notes >>
11.8
12.74
