Mechel Target Price Cut to $19 From $38 at Renaissance Capital

Renaissance Capital cut its 12-month target price on American depositary receipts of OAO Mechel (MTLR) to $19 from $38 and reiterated its “buy” recommendation on the stock, Moscow-based analysts Boris Krasnojenov and Vasiliy Kuligin said in an e-mailed report.

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