Analysts of brokerage company Raiffeisen Capital & Investment (RCI) have reduced their target price for Transelectrica shares (TEL), by 10%, to 40.1 RON, given the reduced growth rates forecast for the next few years, according to a report published at the end of last week. The significant rise of Transelectrica shares over the last few months, however, prompted RCI analysts to improve their recommendation for these shares from "hold" to "buy", and forecast a 25% growth potential for the next 12 months, against Thursday's price, of 32 RON/share. RCI analysts estimate Transelectrica's total revenues will amount to 2.9 billion RON (almost 830 million euros, at an average exchange rate of 3.5 RON/euro), up by 11.5% against last year's overall revenues, of 2.6 billion RON (around 780 million euros, at an average exchange rate of 3.34 RON/euro). The net profit for 2008 is estimated at 146.2 million RON (42 million euros), compared with the 51.5 million RON (15.5 million euros) forecast last year.
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