Lukoil Rises in New York as BCS Says Buy on Valuation

OAO Lukoil (LUKOY) rose to a two-week high in New York as BCS Financial Corp. advised clients to buy the Russian oil producer’s stock, saying the “huge discount” to its biggest competitors isn’t justified.
The American depositary receipts jumped 2.7 percent to $47.98 yesterday. The Moscow-listed shares, which gained 2.3 percent, sell for 3.9 times projected 12-month earnings. That compares with an average multiple of 10.5 among 15 global peers, data compiled by Bloomberg show.  (more)

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