Only the clouds are higher!
We close the tactical idea in VK shares at a price of ₽191. VK shares are up 70% since revealing our tactical idea on October 2nd.
By the way, how was the company's third quarter?
Revenues grew by 21% compared to the year and adjusted EBITDA by 22%. At the same time, the growth of the advertising business accelerated, and MAX presented the first results of monetization.
However, costs have also increased. As a result, the EBITDA margin in the quarter decreased to 13.2%, and the net debt to EBITDA ratio increased from 2.3 to 2.7.
Why did SberInvestment analysts decide to take profits?
Despite the growth in revenues, there is still pressure on profitability and an increase in the debt burden.
At the same time, VK's long-term assessment remains positive. SberInvestments experts also maintain a "buy" rating and a target price of 260 rubles.