OMV Petrom raised to BUY, TP RON 0.50 - Robust FCF to fully cover future dividends and growth ambitions
Based on the new mid-term production and capex guidance, we project stronger FCF generation, which should cover both dividends and future growth capexThe importance of the upstream earnings and FCF is expected to gradually lower going forward with the downstream segment projected to generate 75% of the 2025e simplified FCF
With Black Sea offshore gas projects becoming a priority for the government, we see higher chances for Neptun Deep to be greenlighted by Petrom
The Executive Board stays committed to its progressive dividend policy
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.