Alfa Bank analysts have raised their recommendations about Tatneft stocks

Tatneft's GDR's, as well as the stocks of other Russian companies, have demonstrated rather weak dynamics since the latest renewal of their recommendations and accounting price in the end of June 2014. Now Tatneft securities have the growth potential of 26% to the 12-month accounting price calculated on the basis of several estimating methods. Recommendations are raised from ‘at market’ to ‘up market’. The possible increase in bitumen oil production can be an important source of the company’s profit with the stagnating traditional production. However, the doubling of processing capacity at TANEKO oil refinery raises serious anxiety at the background of the future tax manoeuvre in the Russian oil sector. The analysts await that after the reform of the oil refining margin will reduce

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