Industries – Metals & Mining: Third
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Industries – Metals & Mining: Third

Newcomer Eduard Faritov shoots straight in to third place.

Eduard Faritov

Bank of America

Merrill Lynch

Newcomer Eduard Faritov shoots straight in to third place. Praised for “thinking outside the box,” in the words of one portfolio manager, the Bank of America Merrill Lynch researcher tracks 14 Russian stocks and another five in surrounding countries. He recommends PhosAgro, a Moscow-based company whose Apatit subsidiary mines phosphates for use in feeds and fertilizers. The once thinly traded stock recently nearly doubled its share free float and thus its liquidity. Faritov launched coverage with a valuation-based buy rating on the global depositary receipts in March 2012, at $10.15. Through May 2013 the GDRs had jumped 29.2 percent, to $13.11, and the analyst still considers them undervalued. — Ben Mattlin


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