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KEY STOCKS FOR THE WEEK 05/11—09/11
Vakaru Skirstomieji Tinklai, Lithuanian electricity grid operator, has announced a net profit of LTL 42M during the 9 months of 2007, +15% improvement over the previous year’s result. During the same period, its only competitor, state controlled Rytu Skirstomieji Tinklai have turned in a result of LTL 16M, a -32% decrease. While important piece of news on their own, it will be another event that will drive the share prices of the two companies, as well as those of Lietuvos Energija, during the next week. As KPMG’s preliminary valuation of the three companies found its way into the newspapers, substantial deviations in the market and announced pricing will inevitably lead to sharp correction during the week, with investors holding VST shares benefiting at the expense of RST and Lietuvos Energija shareholders.
Ukio Bankas has announced a 9-month profit of LTL 61.5, which, although in line with company guidance, is seen as below investor expectations, as most became accustomed to expectation besting results over the year, especially so in the banking sector. We hence expect the share price to dip further down in the short term.
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Mantas Pakėnas
Kapitalo rinkų skyrius / Capital Markets Unit
DnB NORD Investment Banking
J. Basanavičiaus g. 26, 03601 Vilnius
Tel./phone: +370 5 2393776
Faksas/fax: +370 5 2393783
El. paštas/e-mail: mantas.pakenas@dnbnord.lt
Vakaru Skirstomieji Tinklai, Lithuanian electricity grid operator, has announced a net profit of LTL 42M during the 9 months of 2007, +15% improvement over the previous year’s result. During the same period, its only competitor, state controlled Rytu Skirstomieji Tinklai have turned in a result of LTL 16M, a -32% decrease. While important piece of news on their own, it will be another event that will drive the share prices of the two companies, as well as those of Lietuvos Energija, during the next week. As KPMG’s preliminary valuation of the three companies found its way into the newspapers, substantial deviations in the market and announced pricing will inevitably lead to sharp correction during the week, with investors holding VST shares benefiting at the expense of RST and Lietuvos Energija shareholders.
Ukio Bankas has announced a 9-month profit of LTL 61.5, which, although in line with company guidance, is seen as below investor expectations, as most became accustomed to expectation besting results over the year, especially so in the banking sector. We hence expect the share price to dip further down in the short term.
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Mantas Pakėnas
Kapitalo rinkų skyrius / Capital Markets Unit
DnB NORD Investment Banking
J. Basanavičiaus g. 26, 03601 Vilnius
Tel./phone: +370 5 2393776
Faksas/fax: +370 5 2393783
El. paštas/e-mail: mantas.pakenas@dnbnord.lt