ONGC Supply Target Soars Amidst Windfall Tax Uncertainty
Mumbai– CLSA has actually considerably elevated its target rate for ONGC stock to 415, citing the supply’s undervaluation about present crude oil rates, forecasting a 60 % advantage.
- Target Cost: Increased to 415 per share.
- Rationale: Stock rate shows $ 63/ barrel crude, while current prices are around $ 100
- Presumptions: Rate target based upon $ 89 crude in 2027 and $ 82 in 2028
- Risk: Battle resolution could invalidate rate projections.
- Capitalist View: Unpredictability surrounding future windfall tax obligations and geopolitical events are affecting financier self-confidence. The brokerage firm’s overview hinges on continual high crude rates in the coming years.
