Morgan Stanley Predicts Share Price Hike for Russia's CTC Media
Russia’s leading independent media group, CTC Media, could see shares soar by 79% within a year.
MOSCOW -- Morgan Stanley has predicted that the share price of Russia’s leading independent media group, CTC Media, could increase by 79% within a year.
In February 2012, the highest possible share price of CTC Media, which operates the Russian television channels CTC, Domashny and DTV, as well as TV assets in Kazakhstan and Moldova, could be $37 per share, Morgan Stanley said, explaining that the optimistic scenario would mean a 22 percent growth in the total Russian TV ad market.
A spokesperson for CTC Media told The Hollywood Reporterthat the company could not comment on independent forecasts of its share price and, similarly, on the forecast regarding Russia’s total TV ad market.
Meanwhile, earlier this month, commenting on a 45 percent increase in the company’s net revenues in 2010, CEO Anton Kudryashov attributed it to “the resumed growth of the Russian television market.”
According to The Russian Association of Communication Agencies, last year, Russia’s TV ad market grew by 16 percent, year on year, and in 2011, the market’s growth could be between 20 percent and 26 percent.