Raiffeisen Ups Romania Transgaz Target Price To RON265/Share
Raiffeisen Capital&Investment Thursday raised by 12% to 265 lei (EUR55.9) a share its 12-month target price on Romanian state-run natural gas pipeline operator Transgaz Medias (TGN.RO), while keeping its recommendation unchanged at ‘hold’.
The decision was driven by “a mix of factors, among which improved short term performance derived from the boost in quantities transported and transit, higher expected dividend pay-out ratio and slightly lower risk free rates,” Raiffeisen said in a report.
Raiffeisen’s new target price is 9% higher from Transgaz’s latest market price of RON243 a share.
Transgaz is 73.5%-owned by the Economy Ministry, while investment fund Fondul Proprietatea (FP.RO) has almost 15% of its shares. (EUR1=RON4.347)
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