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
Morgan Stanley Ivan Kachkovski

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
Morgan Stanley Sell 0.80 - 10 November 2020
Goldman Sachs Sell 0.85 - 28 April 2020
HSBC Hold 1.06 0.037 11 August 2020
KBW Hold 1.47 - 21 June 2018
Sberbank CIB Hold 1.10 - 4 September 2020
Societe Generale Hold 0.94 - 10 November 2020
Sova Capital Buy 1.50 - 20 May 2020
Wood & Company Sell - 0.060 5 March 2018
Alfa-Bank Hold 1.20 0.040 19 August 2020
BCS Hold 1.30 0.046 28 July 2020
Gazprombank Hold 1.28 0.048 10 November 2020
Uralsib Hold 2.00 - 9 January 2020
Renaissance Capital Hold - 0.050 8 November 2018
Aton Hold - 0.045 4 June 2020
Average 1.25 0.047

Сonsensus for 3Q and 9М of 2020, as well as for the years of 2020–2022 is based on the analytical data from 10 investment banks (HSBC, Goldman Sachs, Societe Generale, Alfa-Bank, Uralsib, Sberbank CIB, BCS, Gazprombank, Renaissance Capital, Morgan Stanley) as of November, 5th, 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.