Credit Suisse puts on a cable
Analysts of investment bank consider that the fixed operators it is more attractive mobile
Investbank Credit Suisse has lowered the target price and ratings “ Vympelcom “ and MTS. According to analysts of bank, incomes of cellular operators will suffer not only from rouble easing, but also from decrease in a consumption level of their services. But experts of the company pay attention to operators of a fixed-line telephony at whom as they think, essentially big possibilities on gain increase, and their subscribers are more loyal.
Credit Suisse has lowered the target price “ Vympelcom “ and MTS to 9 and 27 dollars for one depozitarnuju the receipt accordingly. The recommendation about MTS papers is reconsidered to “ below the market “ with “ above the market “ on “ to Vympelcom “ - to “ neutrally “ with “ above the market “. “ We mark increasing risk for decrease in a gain of the Russian mobile operators nominated in national currency, we reduce the forecast on change of a gain of MTS and “ Vympelcom “ in 2009 in Russia to - 1 % from the several percent of growth predicted earlier. We also began to estimate more carefully prospects of business of operators in the CIS countries. We expect that MTS gain in Ukraine will fall to 17 %, and incomes “ Vympelcom “ in Kazakhstan will fall to 6 % in comparison with 2008 “ - it is told in the bank report.
according to analysts Credit Suisse, incomes of cellular operators will suffer not only from rouble easing, but also from decrease in a consumption level of their services. Will limit expenses on mobile communication and physical persons - from - for unemployments and falling of salaries, and corporate clients - within the limits of the general reduction of operational expenses. But experts pay attention to operators of a fixed-line telephony at whom it is essential more possibilities on gain increase, and their subscribers are more loyal.
the fixed operators rendering services the Internet - access, are stable concerning fluctuations of an indicator of a monetary stream, analyst UniCredit Aton Anna Kurbatov considers. “ risks at operators of a fixed-line telephony it is essential less - owing to a number of factors their subscribers change the consumer preferences more slowly. On the other hand, an uncertain position concerning destiny “ Svyazinvest “ reduces appeal of regional operators of a fixed-line telephony “ - has explained an analyst.