Citibank raises target price, outlook for Russia’s ALROSA shares

MOSCOW, Jul 11 (PRIME) -- Citibank has raised the target price by 22% to 85 rubles, which implies a 24% upside potential, and improved the outlook for Russian diamond mining giant ALROSA to “Buy” from “Hold,” the investment bank said in a statement on Monday.

Earlier on Monday, the government sold its 10.9% in the company for 65 rubles per share.

(64.2488 rubles – U.S. $1)

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