The brokerage house Goldring maintains its target price for the shares of OMV Petrom (BVB: SNP) in the range of RON 0.78 - 0.82, estimated in the spring, according to a report published at the end of last week, quoted by Bursa.ro.

The target price is 5.6%-11% above the current quotation of the company's shares.

The brokerage house estimates that the oil and gas producer will obtain a net profit of RON 5 billion this year, slightly above the company's projections.

To estimate the target range of the share price, Goldring uses the discounted cash flow method and the market multiples method.

Based on the discounted cash flow method, the analysts obtained a price of RON 0.7837 per share and based on the multiple valuation method, a price of RON 0.824. The estimate has a time horizon of twelve months.

iulian@romania-insider.com

(Photo source: Mihai Olaru/Dreamstime.com)