Exane BNP Paribas upgraded OMV AG to Outperform from Neutral with a EUR 36 price target The firm says “substantial excess” OPEC+ capacity is “hanging over” the oil and gas sector “like the Sword of Damocles.” With a weaker macro outlook the analyst downgraded the most refining-exposed names. Exane upgraded OMV citing improved petrochemical margins.
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