Morgan Stanley Sees Russian Growth Accelerating for Mobile TeleSystems OJSC

In a report published Tuesday, Morgan Stanley analyst Cesar Tiron reiterated an Equal-Weight rating and $20.00 price target on

. In the report, Morgan Stanley noted, “MTS results highlight solid execution and provide reassurance that a weaker macro has limited impact on telco spend. 1Q14 revenue and EBITDA came in ~0.5% ahead of consensus. We stay EW. MTS delivered a solid performance in its core Russian market.” Mobile TeleSystems OJSC closed on Friday at $18.13.