Daily analyst comments

11:38 NorNickel holds annual shareholder meeting

NorNickel’s AGM has restored equilibrium among Interros, Rusal and the state.

Common shares
Rating	Hold
Price	169,85 $
Target price	179,00 $

Common shares
Rating	Hold
Price	169,85 $
Target price	179,00 $

11:36 Sberbank lowers deposit rates

Russia’s largest public bank, Sberbank, has decided to lower deposit interest rates. On one hand, this move should help the bank reduce funding expenses; On the other hand, Sberbank risks losing ground in the retail deposit market, especially if the economic climate continues to improve.

Sberbank

Common shares
Rating	Buy
Price	2,62 $
Target price	4,62 $

Preferred shares
Rating	Buy
Price	1,87 $
Target price	2,73 $

11:33 Transneft posts FY 2008 IFRS results

The FY 2008 IFRS report from Transneft has turned out to be above market expectations. Transneft’s operating performances were also robust: the volume of oil product transportation showed a steady upward trend, which helped the company boost its operating margin.

Transneft

Preferred shares
Rating	Buy
Price	1 086,36 $
Target price	2 144,00 $