Analysts of Austrian bank Raiffeisen Centrobank recommend to investors to sell Petrom shares (SNP) (Petrom is the largest company on the Romanian market), suggesting a target price of 0.25 RON for these shares, 11.9% lower than yesterday's trading session price of 0.248 RON. "Considering the diminishing upstream production rates and very unfavourable refining profitability, combined with the insecurity regarding further extraordinary cost events, we confirm our "reduce" recommendation while increasing our target price from 0.24 RON to 0.25 RON on the back of our improved forecast for the oil price and the US dollar compared to the RON," say Raiffeisen analysts. Petrom has recently dropped its project to boost and modernise the refining capacity of Petrobrazi refinery, which, according to Raiffeisen analysts, cancels the company's prospects of returning to profit on this segment.

Analysts of Austrian bank Raiffeisen Centrobank recommend to investors to sell Petrom shares (SNP) (Petrom is the largest company on the Romanian market), suggesting a target price of 0.25 RON for these shares, 11.9% lower than yesterday's trading session price of 0.248 RON. "Considering the diminishing upstream production rates and very unfavourable refining profitability, combined with the insecurity regarding further extraordinary cost events, we confirm our "reduce" recommendation while increasing our target price from 0.24 RON to 0.25 RON on the back of our improved forecast for the oil price and the US dollar compared to the RON," say Raiffeisen analysts. Petrom has recently dropped its project to boost and modernise the refining capacity of Petrobrazi refinery, which, according to Raiffeisen analysts, cancels the company's prospects of returning to profit on this segment.