ING Bank analysts recommend “hold” for Petrom shares

This is the first downgrade for Petrom shares by one of the main brokerage houses. The most recent recommendations for Petrom, by BCR Securities, CA IB, and KBC Securities, are “buy”.

ING indicated that macroeconomic risks in Romania are higher than those in other Central and Eastern European states.

ING also said that Austrian OMV’s attempts to take over Hungarian MOL oil company will not be successful in the coming two years. OMV is Petrom’s main shareholder.