Bloomberg News

Russia’s Etalon Jumps to Six-Month High as Goldman Lifts Price

February 22, 2012

Feb. 22 (Bloomberg) -- Etalon Group Ltd., which builds high-rise apartment blocks in Moscow and St. Petersburg, climbed to the strongest level in more than six months after Goldman Sachs Group Inc. lifted its price estimate.

Etalon jumped 4.8 percent to $6.10 by 11:11 a.m. in London, its highest intraday price since Aug. 8.

Goldman analysts increased their estimate to $10.50 from $8.50, citing real wage growth and consumer confidence in an e- mailed report today.

Link to company news: PIK LI <Equity> CN <GO> Link to company news: ETLN LI <Equity> CN <GO>

--Editors: Alex Nicholson, Stephen Kirkland

To contact the reporter on this story: Marina Sysoyeva in Moscow msysoyeva@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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