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Gazprom (OGZD:MOSCOW) $59.90

With the price of oil still hovering above the $90 a barrel mark, there is still a lot of value in Russian giant Gazprom, which we bought earlier in the autumn making solid gains. James Bonsor at Global Trader says: ‘Oil finally touched the $100 per barrel level this month, and many commentators are speculating that it will return to that level sooner rather than later. With this in mind, it should only be a matter of time before Gazprom gets above the $60 a share price towards which it has been marching with increasing vigour.’ This is an important level according to Bonsor. In terms of the newsflow, the company has made it clear that they are likely to be active in Persia’s biggest natural gas deposit, South Pars, by late March. Bullish statements from research houses such as Troika, which expects to see 11% upside to the price this year, and Deutsche Bank which expects 31% upside, also helps maintain momentum for this stock.

ACTION: BUY Gazprom • Target $65.90 • Stop Loss $56.30

TIME TARGET: 6 WEEKS