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Analysts at Berenberg Bank have confirmed its “Buy” rating for OMV’s shares.
The target price of the shares of the national oil and gas company was adjusted upwards by analyst Henry Tarr from 34.0 to 38.0 euros.
In a study on the European oil and gas sector, the expert points to an attractive valuation of OMV’s shares. The stock remains a Berenberg Bank favorite amid a potential oil industry rally. Additionally, analysts see the Borealis transaction as a positive strategic deal that positions OMV as one of the world’s largest petrochemical producers. OMV’s subsidiary generated a strong cash flow of 1,100 million euros in the first nine months of the year.
Berenberg analysts expect adjusted earnings per share to be EUR 2.07 for 2020. Estimates for 2021 and 2022 are EUR 3.36 and EUR 4.65 earnings per share, respectively. Its estimates of dividends per share for these three periods are € 1.75 per share.
On Wednesday, OMV’s shares were listed on the Vienna Stock Exchange up 2.18 percent at 32.84 euros.
Berenberg Bank Institute of Analysis
Note: At http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html you can find information on the obligation of disclosure in case of conflicts of interest within the meaning of Directive 2014/57 / EU and the regulations of the corresponding EU for the aforementioned house of analysts. (Published web links are taken without change from the dpa-AFX website).
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