Russia (RSX) is lifted to Overweight by Citigroup, citing low valuations for making the country...

|By:, SA News Editor

Russia (RSX) is lifted to Overweight by Citigroup, citing low valuations for making the country its preferred pick in central/eastern Europe, Middle East, and Africa. The Micex trades at 5.1x earnings after falling 8.5% this year vs. 9.5x for the MSCI Emerging Markets Index. The recent rise in crude oil to more than a 1-year high can't be hurting either.