Goldman Sachs Changed Its Recommendation for IDGC of Centre Shares
OREANDA-NEWS On 28 October was announced, that Goldman Sachs changed the predicted cost of shares of the majority of the analysed companies of the Russian Federation electric power sector to 10-60 %.
Goldman Sachs changed their recommendation from "to hold" to "to buy" for the shares of JSC RusHydro, JSC Lenenergo and "Interregional Distribution Grid Company of Centre", JSC (IDGC of Centre, JSC), and from "to buy" to "to hold" for the shares of JSC WGC-1.
The analysts corrected the models of estimation of the companies of electric power sector with the account of the expected delay of economic growth in Russia and WACC(weighted average cost of capital) higher indicator: in generating companies it raised from 16 % to 21 % annual, and in distribution companies, from 14 % to 19 %.
According to the analysts, the best for investment among the securities of the generating companies are now RusHydro's shares, because they are strongly and unreasonably underestimated, compared with their analogues from the European and developping markets.
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