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The 2014 All-Russia Research Team: Utilities, No. 3: Alexander Kotikov

Alexander Kotikov
Sberbank CIB
First-place appearances: 1

Total appearances: 7

Analyst debut: 2008

Although he slips one rung to third place, the position he most recently held in 2011, Sberbank CIB’s Alexander Kotikov is praised for his ability to “focus on the main industry drivers without being unnecessarily distracted by minor daily noise,” as one portfolio manager puts it. From his expanding coverage universe of 12 Russian utilities, Kotikov selected Inter RAO UES as his top pick in November. He forecast that the Moscow-based power distributor would see healthy earnings growth from capacity increases. Within days of his recommendation, New York–based data analytics firm MSCI removed the stock from its Russia index, causing a short-term drop in the share price. But by the end of May, Inter RAO had recovered, rising to 0.00952 rubles and delivering a 20.1 percent gain since November. Over the same period the sector rose by 4.8 percent. “Alexander has solid experience and knowledge of the complicated sector,” asserts another fan, “which helps us understand which developments have material impact and which don’t.”


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