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Evgeniy Kipnis
Senior Banking/Consumer Analyst @ Alfa
Evgeniy joined the Alfa-Bank Equity research team in 2016, covering stocks in the Russian consumer, retail, agriculture and IT sectors. Hewas promoted in early 2018 to Senior Analyst, placed in charge of covering Russian banking and consumer names. Evgeniy holds a master’s in economics from The Financial University under the Government of The Russian Federation and is a Level 3 CFA candidate.
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Latest articles from Evgeniy Kipnis
X5 Retail Group: 3Q21 trading update – Moderately positive
X5 (FIVE LI / FIVE RX: O/W; TP $40.4/RUB3,031) reported its 3Q21 trading update. The sustainability of the sales growth at 10%+ is supportive for the stock (the current Bloomberg consensus anticipates 10.1% y/y revenue growth in 2021 and our estimate...
Evgeniy Kipnis @ Alfa 15 October 2021
PIK Group PJSC: Post-SPO volatility unjustified
Real estate market fundamentals remain strong. Large land bank should help harvest the potential of the market. Highly efficient business model with strong IT angle.
Evgeniy Kipnis @ Alfa 7 October 2021
Beluga Group: 9M21 operating results – MODERATELY POSITIVE
BELUGA GROUP (BELU RX: O/W; TP RUB4,999) reported its 1H21 operating results. The stock has added 41% since 19 July (when we initiated coverage) and 21% from its SPO on 9 June. We reiterate our positive view on the stock, seeing 48% upside remaining....
Evgeniy Kipnis @ Alfa 5 October 2021
X5 Retail Group: Concerns exaggerated, catalysts ahead
X5 GDRs have declined 16% YTD vs -7% by MGNT RX and +22% by the MOEX Index. Our 12M TP of $40.4 / RUB3,031 suggests 28-31% upside and our O/W rating remains unchanged. Excluding digital business investment, X5 already generates an EBITDA margin of 7....
Evgeniy Kipnis @ Alfa 13 September 2021
August 2021 RAS results – NEUTRAL
Sberbank (SBER RX / SBERP RX: O/W; TP RUB309 / RUB285) reported its August 2021 RAS numbers. Strong momentum in corporate and retail lending (incl. shares provides solid downside protection, in our view. Retail loan book growth remained a solid 2.2% ...
Evgeniy Kipnis @ Alfa 7 September 2021
VTB Bank: (E/W) – 7M21 IFRS results – MODERATELY POSITIVE
VTB (VTBR RX: E/W; TP RUB0.04) reported its July and 7M21 IFRS numbers. The bank generated RUB30.2bn net income (17.6% ROAE) in July, slightly exceeding its monthly run-rate during 2Q21 (RUB28.5bn). which is realistic, we think. At the same time, we ...
Evgeniy Kipnis @ Alfa 30 August 2021
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2020
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2019
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