UkrAvto plans to raise car sales to 250-270 ths units in 2008

Yesterday UkrAvto (AVTO: SELL) Vice President Vyacheslav Povroznik announced plans to lift car sales to 250-270 ths units in 2008, ~20% higher than in 2007. Povroznik said that the sales increase would likely come at the expense of higher margins. Inna Perepelytsya: We accounted for UkrAvto selling 273 ths units in 2008, just over the upper range of the management’s new projection, in our valuation of the company. We reiterate our SELL on the stock.