OMV: Barclays Capital maintains 'overweight'
(CercleFinance.com) - Barclays Capital reiterates its "overweight" rating on OMV, with upside potential of 7% relative to its target price of 60 euros, after the Austrian oil and gas group made a trading statement for the fourth-quarter.
In a research report to clients, BarCap says the main surprise of this report was a weaker-than-expected upstream gas price realisation, reflecting the addition of discounted gas production in Russia.
While this negative surprise prompted the broker to cut its upstream estimates, Barclays has increased its downstream estimates, reflecting higher-than-expected indicator margins.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a research report to clients, BarCap says the main surprise of this report was a weaker-than-expected upstream gas price realisation, reflecting the addition of discounted gas production in Russia.
While this negative surprise prompted the broker to cut its upstream estimates, Barclays has increased its downstream estimates, reflecting higher-than-expected indicator margins.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.