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RBC 'Tactically Positive' on OMV Ahead of Q3 Trading Update; Rating Lifted to Sector Perform

MT Newswires·10/07/2026 06:46:52
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06:46 AM EDT, 10/07/2026 (MT Newswires) -- RBC Capital Markets is "tactically positive" on OMV (OMV.VI) heading into the Austrian oil and gas company's third-quarter trading update on Friday, noting its Fuels and Feedstock segment clean operating result forecast as a key driver of its view. "Underpinned by a $37.5/bbl refining margin estimate, our Fuels & Feedstock segment clean operating result estimate is 35% above consensus, driving group earnings 28% above [Visible Alpha] consensus. OMV refineries (including Petrobrazi which we visited last week) appear set for strong margin capture this quarter, albeit with a wrinkle of Romania's temporary windfall tax," analysts said Tuesday. Against this backdrop, the research firm upgraded the stock's rating to sector perform from underperform, saying the majority of the "bad news" related to the impact of the Middle East conflict on commodity prices is already reflected in OMV's shares. The price target was raised to 70 euros from 65 euros. RBC also highlighted OMV's "resilient" share price performance amid Middle East exposure-related pressures, adding that the company's "underappreciated torque to refining and European gas" could further boost this resiliency.