Below you may find analyst recommendations and target prices. VTB is covered by the following analysts:

Equity Analysts

Company Analyst
Alfa-Bank Evgeny Kipnis
Aton Mikhail Ganelin
BCS Elena Tsareva
Citi Simon Nellis
Gazprombank Andrey Klapko
Goldman Sachs Andrey Pavlov-Rusinov
HSBC Andrzej Nowaczek
KBW Hadrien De Belle
Société Générale Alan Webborn
Sova Capital Andrey Mikhailov
Sberbank CIB Andrew Keeley
Wood and Co. Can Demir
Uralsib Natalia Berezina

Credit Analysts

Company Analyst
BNP Paribas Tatiana Tchembarova
Commerzbank Apostolos Bantis
J.P. Morgan Bank Maxim Miller
Bank of America - Merrill Lynch Kay Hope
UBS Kseniya Mishankina
Raiffeisenbank Denis Poryvay

The forecasts are provided to VTB by contributing investment analysts, and are, as such, publicly available information. These forecasts are not, in any way, based on VTB proprietary forecasts, not endorsed by VTB, neither does VTB assume any obligation to revise them to reflect circumstances arising after the date below.

Investment Bank Recommendation Target price of GDR, USD Target price of ordinary share, RUB Update
Citi Hold 1.52 - 17 August 2018
Goldman Sachs Sell 1.35 - 27 February 2020
HSBC Hold 1.38 0.045 27 February 2020
KBW Hold 1.47 - 21 June 2018
Sberbank CIB Hold 1.70 - 27 February 2020
Societe Generale Buy 1.80 - 27 February 2020
Sova Capital Buy 2.10 - 18 September 2019
Wood & Company Sell - 0.060 5 March 2018
Alfa-Bank Buy 2.10 0.10 27 February 2020
BCS Hold 0.93 0.037 27 March 2020
Gazprombank Buy 2.39 0.077 24 December 2019
Uralsib Hold 2.00 - 9 January 2020
Renaissance Capital Hold - 0.050 8 November 2018
Aton Hold 1.52 0.049 14 June 2019
Average 1.69 0.060

Сonsensus for 4Q 2019, as well as for the years of 2019–2021 is based on the analytical data from 10 investment banks (HSBC, Goldman Sachs, Societe Generale, Alfa-Bank, Uralsib, Sberbank CIB, BCS, Morgan Stanley, Aton, Gazprombank) as of February, 25th, 2020.

The forecasts are provided to VTB by contributing investment analysts, and are, as such, publicly available information. These forecasts are not, in any way, based on VTB proprietary forecasts, not endorsed by VTB, neither does VTB assume any obligation to revise them to reflect circumstances arising after the date below. The consensus data below is compiled and updated by VTB’s Investor Relations and aggregates estimates of publicly available forecasts made by contributing sell side investment analysts.