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ETLN - Etalon News Story

$1.53 0.0  1.3%

Last Trade - 11:23am

Sector
Consumer Cyclicals
Size
Small Cap
Market Cap £340.8m
Enterprise Value £584.7m
Revenue £879.1m
Position in Universe 612th / 1819

BUZZ-Russian Homebuilders: Affordable mortgages to fuel growth - JPM

Wed 10th June, 2020 10:15am
** JP Morgan expects that mortgage affordability to fuel
Russian developers' presales growth from May and expects all
listed developers to resume dividends in Q3   
    ** The broker estimates mortgage affordability is at
all-time highs thanks to the introduction of a government
subsidy program for mortgages
    ** JPM expects homebuilders to offer one of the most
attractive yields on the Russian stock market - 12-13% for LSR
 LSRGq.L  and Etalon  ETLNGq.L 
    ** The broker upgrades LSR  LSRGq.L  to "overweight" from
"neutral" as it sees the company as one of the key beneficiaries
of industry trends although it still prefers PIK's  PIKK.MM 
business model
    ** An additional boost to the housing market should come
from further rate cuts by the Central Bank of Russia, JPM adds
    
    
    
    

 ((Anna.banacka@thomsonreuters.com))
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