Deutsche Bank Downgrades Mobile Telesystems (MBT) to Hold; Upside Limited

Deutsche Bank downgraded Mobile Telesystems (NYSE: MBT) from Buy to Hold, price target lowered to $20.00.

Deutsche analyst said, "Although we raise our Russian EBITDA margin estimates (and expect strong numbers from MTS on 28 August), the negative factors include weaker RUB forecasts and CIS. Overall, we reduce our estimates and cut our target price by 5% to USD20, which implies that upside potential to our target price is now limited. MTS performed well in 2012, rising by over 30% YTD (strongly outperforming the RTS index). It also now trades at a premium to most of its CEEMEA peers.

For an analyst ratings summary and ratings history on Mobile Telesystems click here. For more ratings news on Mobile Telesystems click here.

Shares of Mobile Telesystems closed at $19.04 yesterday.

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