Nostrum downgraded by Credit Suisse

Credit Suisse has downgraded its recommendation on Kazakhstan based oil producer Nostrum Oil & Gas (LON:NOG) to ‘neutral’ from ‘outperform’, stating that the stock is priced for perfect execution at GTU 3.

Specifically, the broker commented: “We remain confident Nostrum can grow production if it successfully executes its GTU 3 expansion, but the shares are no longer cheap when compared to our DCF based risked NAV, and imply ‘perfect execution’ at GTU 3, in our view.”

It also pointed out that, since May, Nostrum’s share price has risen by around 42% in GBp terms and by 22% in USD.

Analysts have increased their target price to 440 pence per share (from 415 pence).

At 2:25pm: (LON:NOG) Nostrum Oil Gas Plc share price was -0.5p at 427.75p

Story provided by


Claim 12 issues of MoneyWeek (plus much more) for just £12!

Let MoneyWeek show you how to profit, whatever the outcome of the upcoming general election.

Start your no-obligation trial today and get up to speed on:

  • The latest shifts in the economy…
  • The ongoing Brexit negotiations…
  • The new tax rules…
  • Trump’s protectionist policies…

Plus lots more.

We’ll show you what it all means for your money.

Plus, the moment you begin your trial, we’ll rush you over THREE free investment reports:

‘How to escape the most hated tax in Britain’: Inheritance tax hits many unsuspecting families. Our report tells how to pass on up to £2m of your money to your family without the taxman getting a look in.

‘How to profit from a Trump presidency’: The election of Donald Trump was a watershed moment for the US economy. This report details the sectors our analysts think will boom from Trump’s premiership, and gives specific investments you can buy to profit.

‘Best shares to watch in 2017’: Includes the transcript from our roundtable panel of investment professionals – and 12 tips they’re currently tipping. The report also analyses key assets, including property, oil and the countries whose stock markets currently offer the most value.