Research Reports

  • 02.17.11 Financials

    Ukrainian Banking Quarterly 4Q10 - We recommend Ukrsotsbank as a BUY in the equity market. We believe FUIB- 14s have strong potential for price apprec...> read more

  • 02.14.11 Metals and Mining

    Pivnichny GOK: Appropriately Positioned for Growth - Pivnichny GOK’s aggressive 2011-2012 capacity expansion program, coupled with strong iron ore pri...> read more

  • 02.09.11 Agriculture

    AvangardCo: Sunny Side Up - Avangard’s 2010 operational and fi nancial results surpassed our model’s expectations. Management recently announced FY10 ...> read more

  • 02.02.11 Agriculture

    Agroton: Curb Your Enthusiasm - The positive reaction from investors following Agroton’s October 2010 IPO has driven the company’s share price to a le...> read more

  • 02.02.11 Real Estate

    Dragon Ukrainian Properties & Development: Acquisition of New Asset Not Priced In - Dragon Ukrainian Properties & Development’s (DUPD) recent acquisit...> read more

  • 02.01.11 Agriculture

    MHP S.A.: Full Steam Ahead - MHP’s reported FY10 operational results highlighted the company’s fullcapacity operations and came in line with our forec...> read more

  • 01.31.11 Oil and Gas

    Ukrnafta: 4Q10 Results Preview - Good, But Not Good Enough - We expect Ukrnafta to report a healthy profi t of USD 123mn for 4Q10, bringing its net pr...> read more

  • 01.21.11 Electricity Generation and Distribution

    CentrEnergo: 4Q10 Results Preview - Short End of the Stick - We expect CentrEnergo to report weak financial results for 4Q10, with a net loss of USD 6...> read more

  • 01.19.11 Machinery

    Stakhanov Wagon: Pushing the Envelope - Stakhanov Wagon recently announced a plan to lift its freight railcar production by 21% YoY, to 9,000 units, i...> read more

  • 01.18.11 Machinery

    Stakhanov Wagon: Pushing the Envelope - Stakhanov Wagon recently announced a plan to lift its freight railcar production by 21% YoY, to 9,000 units, i...> read more