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GS upgrades MOL to “buy”

Goldman Sachs (GS) has upgraded the papers of listed energy major MOL to “buy” from “neutral” and raised its target price to HUF 25,000 which is a 22% potential upside, said online business portal Portfolio reporting on an April 19 handout.

GS said the upgrade was warranted as the stock looks “attractive on valuation”, offers “good exposure” to the Ural/Brent and diesel/fuel oils spreads as well as the oil price.

The stock can “re-rate versus the sector” as MOL undergoes the transformation from a refiner to an integrated company, added GS in its report. (