OMV: Berenberg maintains 'buy' rating
(CercleFinance.com) - Berenberg maintains its "buy" rating on OMV, with a target price of 60 euros, after the Austrian oil and energy group reported "strong" quarterly indicators.
"OMV has delivered a strong operational performance in a challenging macro environment”, the German brokerage firm said in a note to clients.
Upstream was a particular stand-out, benefiting from the return of Libyan volume, which offset weaker performance in refining, Berenberg pointed out.
"We continue to view OMV as one of the most mis-priced companies among the European integrateds," the broker added.
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