Equity
K&H Equities analyst raises MOL target price
The target price for Hungarian fuels group MOL has been raised by nearly HUF 2,000 to HUF 15,470 on Friday by K&H Equities analyst Péter Tordai.
Tordai maintained the ‘Buy' recommendation on MOL shares.
Tordai's analysis does not include potential impacts of today's preliminary Q1-Q3 report, but the possible implications of the sale of MOL's gas business were taken into consideration.
MOL sold parts of its midstream gas units to Germany's E.On Ruhrgas, implicitly valueing the business at about EUR 2.2 billion, including debts, while Tordai expected EUR 1.06 billion.
The sale of its gas business will increase MOL's share price by HUF 1,728, Tordai said, putting the fair value of the share to HUF 13,780. The analyst upped the 12-month target price to HUF 15,470.
By 1315 local time MOL shares were up 0.4% on the Budapest bourse at HUF 12,895 with nearly HUF 11 billion turnover.
The general index of the BSE was down 0.1% from Thursday's finish at 14,301 points. Total turnover was HUF 18.5 billion and traders expect it to greatly exceed HUF 20 billion by day-end.
Tordai maintained the ‘Buy' recommendation on MOL shares.
Tordai's analysis does not include potential impacts of today's preliminary Q1-Q3 report, but the possible implications of the sale of MOL's gas business were taken into consideration.
MOL sold parts of its midstream gas units to Germany's E.On Ruhrgas, implicitly valueing the business at about EUR 2.2 billion, including debts, while Tordai expected EUR 1.06 billion.
The sale of its gas business will increase MOL's share price by HUF 1,728, Tordai said, putting the fair value of the share to HUF 13,780. The analyst upped the 12-month target price to HUF 15,470.
By 1315 local time MOL shares were up 0.4% on the Budapest bourse at HUF 12,895 with nearly HUF 11 billion turnover.
The general index of the BSE was down 0.1% from Thursday's finish at 14,301 points. Total turnover was HUF 18.5 billion and traders expect it to greatly exceed HUF 20 billion by day-end.
