Earnings Report /
Russia

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 from current levels on one-year horizon

Evgeniy Kipnis
Evgeniy Kipnis

Senior Banking/Consumer Analyst

Alfa
5 October 2021
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