Bloomberg News

Bank Saint Petersburg Jumps 6th Day as JPMorgan Raises Stock

October 13, 2011

(Updates with closing share price in second paragraph.)

Oct. 13 (Bloomberg) -- Bank Saint Petersburg rose for a sixth day, its longest winning streak in more than a month after the Russian lender was upgraded by JPMorgan Chase & Co. to “overweight” from “neutral.” The share price may climb 125 percent from current levels, JPMorgan said in an e-mailed note today.

The stock rose as much as 14 percent and closed up 7.7 percent at 94.10 rubles by 6:45 p.m. in Moscow.

--Editors: Alex Nicholson, Peter Branton

To contact the reporter on this story: Jason Corcoran at Jcorcoran13@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus