Aug
30
Russian Oil Producers Win Alfa Bank Favor Buoyed by Ruble Slide
ByFor investors brave enough to wade into Russia, a once-promising emerging market turned economic outcast, oil stocks might offer the right balance between risk and reward.
For one thing, the depreciating ruble gives Russian oil producers a cushion against plunging commodity prices because it cuts costs and taxes for companies that earn in dollars but pay most of their expenses in domestic currency.
Alfa Bank’s Alexander Kornilov upgraded the oil sector to a buy last week, while Goldman Sachs Group Inc.’s Geydar Mamedov said earlier this month that current valuations offer an attractive “entry point.”…
Russian Oil Producers Win Alfa Bank Favor Buoyed by Ruble Slide
