Goldman lifts outlook on Turkcell

• Goldman Sachs upgraded Turkish telecom Turkcell Iletisim Hizmetleri (NYSE:TKC) to Buy, from its previous rating of Neutral.
• Its move (along with Citi's price target hike) is a rare bit of analyst sunshine after shares faced downgrades the past few months.
• The stock continues to be responsive to ruble moves; today shares were down 1.7% despite Goldman's upgrade, as today the ruble slipped to 63.41/dollar.
• The company cited currency losses from its operations in Ukraine and Belarus in explaining net income that dropped by half.
• Other ruble-related telecoms: (VIP -2.6%), (MBT -2.7%)