Stock Market Review for May 26, 2021 – ForTrader.org Financial Magazine


Market on the eve

On May 25, positive dynamics prevailed. The growth leaders were shares of Sberbank (SBER 307.13, + 2.14%). Ozon (OZON 4040, -3.78%) outperformed the market. The USD / RUB pair was trading in the range of 73.4–74.0.

Market and company news

LUKOIL (LKOH 5,931, + 1.34%) will report for the 1st quarter under IFRS. We expect the company’s revenue to be RUB 1,518 bn. with EBITDA of 228 billion rubles. and net profit of at least 86 billion rubles. A higher level of profit is not excluded due to the increase in volumes and selling prices for petroleum products. Our target is on the horizon for 12 months – about 6900 rubles. for the paper. However, this target price may be revised if the oil market conditions change. The meeting of the technical monitoring committee of the OPEC + countries has been postponed to May 31. It is not excluded that during the meeting the forecast for consumption for the 3rd quarter will be increased by 100 thousand barrels. per day. The growth in oil demand, in our opinion, has not been fully won back. As a result, it cannot be ruled out that the price of Brent will rise above $ 70 per barrel.

Trading Ideas

X5 Group (FIVE 2,259.0, -1.07%), spec. purchase, purpose: 2,400 rubles. The correction gave way to a rebound at the auction on May 21. We expect consumer stocks to demonstrate positive dynamics in the coming days. Unlike Magnit and Lenta, X5 shares have been steadily declining for seven months in the absence of fundamental drivers. X5 will remain the largest player in its segment, long-term target for the retailer’s shares: 3,150 rubles.

Expectations

We expect multidirectional dynamics. It is not excluded that the maximum on the Moscow Exchange index will be renewed against the background of the growth of Sberbank shares. Benchmark reference: the range of 3650–3700 points. Forecast for the USD / RUB pair: a corridor of 73.00-74.00.

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