RBC upgrades OMV to 'sector perform' on conflict-driven prices, under-appreciated torque

OMV Aktiengesellschaft

06/10/2026 07:27

** RBC upgrades Austria's OMV OMVV.VI to "sector perform" from "underperform" citing positive exposure to impacts of the Iran conflict on refined commodity prices, European gas storage levels
** The broker sees upside for the oil, gas and chemicals company to "snowballing" commodity prices due to the US-Israeli war on Iran, supercharged by Ukraine's attacks on Russian refineries
** "We see OMV’s underappreciated torque to refining and European gas driving further resilience," RBC says, pointing to possible near-term earnings upgrades
** It believes shares reflect "majority of bad news" and sees the main risk as currently further asset damage, notes investor hesitancy due to Middle East risks
** Stock is up nearly 50% year-to-date as of Monday's close
** RBC lifts target price to €70 ($78.46) 
** Brokers Morgan Stanley, HSBC and Barclays have each also raised respective target prices for the company since end of September
($1 = 0.8922 euros)

(Reporting by Danny Callaghan)
((danny.callaghan@thomsonreuters.com))