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Alrosa Rated as 'Buy'

Alrosa, the country's diamond mining monopoly, was rated "buy" by VTB Capital as the bank initiated coverage of the company ahead of a possible share sale next year.

Alrosa, which is traded on the over-the-counter market in Moscow, has about 30 percent upside as the company is set to benefit from "skyrocketing" prices for rough diamonds and potential privatization, VTB said Monday.

The over-the-counter price may reach $43,000 a share within 12 months, the bank said. Alrosa had a market value of about $9 billion as of Aug. 5.

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