OMV: UBS upgrades stock

(CercleFinance.com) - UBS upgrades its recommendation on OMV shares from 'neutral' to 'buy', with a target price raised from E41 to E45, which implies 14% upside potential for the Austrian oil company's stock.


The broker considers OMV a defensive stock in a deteriorating environment, and points to a high distribution yield, as well as a downgrading cycle coming to an end, helped by volume growth.


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