Equity
K&H Equities upgrades MOL target price to HUF 9,845
At an operating level MOL booked a profit of HUF 62 billion in January-March, 20% above expectations and 121% up from the same period a year before. Its net profit exceeded the consensus forecast by 5% when reached HUF 52 billion, 129% more than in the first three months of 2003.
Tordai said the question was how long the favourable conditions of the first quarter would remain. He said that predicting second-quarter profits was rather easy, but added that second-half figures should be forecast more carefully.
Tordai revised his EPS forecast to HUF 985 from HUF 735 in 2004.
Tordai said the question was how long the favourable conditions of the first quarter would remain. He said that predicting second-quarter profits was rather easy, but added that second-half figures should be forecast more carefully.
Tordai revised his EPS forecast to HUF 985 from HUF 735 in 2004.
