Swiss Capital S.A.

The largest Romanian independent broker/ investment bank  with specialized services for foreign and local institutional investors as well as HNWI/UHNWI/ Family Offices.
The reports issued by Swiss Capital include breadth of sector knowledge and have regular and thematic features. Swiss Capital provides After Market Support via fundamental analysis, road-shows or specific trading notes.
Ongoing cooperation and visits with management of various companies allows Swiss Capital to offer latest news and developments altogether with its own assessment of the overall impact in the market.

TEL RO | Massive CAPEX plan is essential for profit recovery | SELL

We reiterate our SELL recommendation on Transelectrica with a target price of RON 17.1 per share.

SNN RO | Dirt-cheap | Double digit DIVYs for less than 2x FY'19e EBIT...

Dirt-cheap | Double digit DIVYs for less than 2x FY'19e EBITDA | FY'19 Best year ever We update our view on Nuclearelectrica with a STRONG BUY recommendation and a target price of RON 13.90 per share.

Daniela Mandru
  • Daniela Mandru

SNG RO| TP: RON 30.01/share| NEUTRAL

Better-than-expected gas prices and lowering exploration expense * We update our view on Romgaz with a NEUTRAL recommendation and a target price per share of RON 30.01, up from RON 24.97 (TP ex-dividend) previously. We revised our FY’19 net profit estimate up from RON 1,044m previously to RON 1,212m (-11% Y/Y) on higher-than-initially expected gas prices and on lowering exploration expenses.  

Daniela Mandru
  • Daniela Mandru

SNP RO | 15% Upside| Significant upward revision to FY'19E net | BUY

Cheap | Significant upward revision to FY'19E net * We update our view on OMV Petrom with a BUY recommendation and a target price per share of RON 0.449, up from RON 0.392 (TP ex-dividend) previously. We revised FY’19 net profit estimate up from RON 2,856m previously to RON 4,009m (-2% Y/Y) on higher-than-initially expected oil&gas prices and on strong USD appreciation against RON

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