OMV Petrom confirmed at BUY, TP RON 0.75 - Time to price in the Neptun Deep project
-The ongoing resilience of the hydrocarbon prices and refining margins triggered an upward revision of our short-/medium-term earnings projections-With no major regulatory impediments for the FID on Neptun Deep, we decided to include its NPV in our valuation of Petrom
-With a strong FCF generation in 2022 and a positive earnings outlook for the next year, the Board might be inclined to propose another special dividend next year
The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.
The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.
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