Wood has raised its target price for Hungarian fuels group Mol to HUF 13,200 per share from HUF 11,000 previously. As the new TP remains well below the current share price, the recommendation for the oil stock remains ‘Sell’.
Prague-based Wood has updated its model on Friday for Hungarian oil and gas group Mol, setting its target price higher to HUF 13,200 from HUF 11,000 previously. The new fair value estimate is still 12% below the current market price, which could explain why Wood has maintained its ‘Sell’ recommendation.
Wood is among the more pessimistic analysts covering Mol, as the median target price at Reuters is HUF 15,000 at present.
This matches the current share price therefore the stock offers no upside potential or downside risk.
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