FP RO Update | TP:RON 1.066/share | 7% Upside | NEUTRAL
Favourable power prices | Oil price and RRR decline to be smoother than initially expected | 9% DIVY
We update our view on Fondul Proprietatea with a NEUTRAL recommendation and a target price of RON 1.0660 per share. For 2019, the GSM approved a DPS of RON 0.0903 (June 7 Ex-Date) implying a DIVY of 9.1% if last close considered.
The largest Romanian independent broker/ investment bank with specialized services for foreign and local institutional investors as well as HNWI/UHNWI/ Family Offices.
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