VTB Capital Stock Recommendations and Price Targets

This is a list of recent ratings by VTB Capital.

Date	Company Name	Action	Current Price	Price Target	Rating	Impact on Share Price
12/1/2021	NILSY Public Joint Stock Company Mining and Metallurgical Company Norilsk Nickel	Upgrade	$3.00		Hold ➝ Buy	Medium
11/23/2021	FOVSY Ford Otomotiv Sanayi A.S.	Downgrade	$170.00		Buy ➝ Hold	Low
11/23/2021	EPAM EPAM Systems	Upgrade	$188.00	$750.00	Hold ➝ Buy	High
11/5/2021	TKC Turkcell Iletisim Hizmetleri A.S.	Downgrade	$7.00		Hold ➝ Sell	Low
10/28/2021	PHOJY Public Joint-Stock Company PhosAgro	Upgrade	$22.00		Sell ➝ Hold	Low
9/30/2021	OGZPY Public Joint Stock Company Gazprom	Downgrade	$1.00	$9.00	Buy ➝ Hold	Medium
7/14/2021	OTGLY CD Projekt	Downgrade	$9.00		Buy ➝ Hold	Medium
6/3/2021	NOVKY Pao Novatek	Upgrade	$38.00		Hold ➝ Buy	Low