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Industries – Oil & Gas: Third

Pavel Kushnir
Deutsche Bank

Repeat third-teamer Pavel Kushnir tracks 15 stocks for Deutsche Bank. He added Lukoil to his list of top picks in March 2012, dubbing the shares undervalued at $61.90. The share price fell to $50.70 in May 2012 before climbing to $67.20 in February, but Kushnir stood by the call, citing the Moscow-based outfit’s stabilizing oil production. The stock had slid back to $60.60 by the end of May. During the same period the RTS Oil & Gas Index declined 16 percent. Other than Lukoil, he is circumspect about oil stocks going forward, given flat crude oil prices and possible tax hikes on energy producers. “Pavel is the consummate analyst, always taking the long view and unafraid to tell the truth,” attests one buy-side enthusiast. — Ben Mattlin


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