Gant, Orlen, PBG, PGE, Ronson: Central European Equity Preview
The following is a list of companies whose shares may have unusual price changes in central European markets. Stock symbols are in parentheses after company names. Share prices are from yesterday’s close.
Gant Development SA (GNT PW): The Polish property developer was rated “hold” in new coverage at Wood & Company, with a 12- month price estimate of 17.50 zloty a share. Gant shares rose 0.1 percent to 17.63 zloty.
LC Corp SA (LCC PW): The Polish real estate holding company was rated “buy” with a 12-month price estimate of 1.85 zloty in new coverage at Wood. Its shares increased 0.7 percent to 1.54 zloty.
PBG SA (PBG PW): Poland’s largest builder by market value is interested in building soccer stadiums in Qatar and expects to sign contracts worth $1.5 billion with the Middle Eastern country, Parkiet reported, citing PBG spokesman Jacek Krzyzaniak. PBG shares fell 0.2 percent to 222.5 zloty.
PGE SA (PGE PW): The Polish antitrust regulator asked the country’s largest power utility to submit additional information regarding its plan to buy Energa SA, Parkiet reported, without citing anyone. The regulator delayed a final decision on whether to approve the transaction, which had been expected next week, according to the newspaper. PGE lost 0.2 percent to 22.5 zloty.
PKN Orlen SA (PKN PW): Poland’s largest oil refiner said its model refining margin narrowed to $3.30 a barrel in November, while the difference between the Urals crude it refines and Brent, which determines product prices, widened to $1.30 a barrel.
Separately, Raiffeisen Bank AG cut its recommendation for the stock to “reduce” from “hold.” Orlen rose 0.3 percent to 46.35 zloty.
Ronson Europe NV (RON PW): The real estate developer was rated “buy” in new coverage at Wood, with a 12-month price estimate of 1.77 zloty. Ronson fell 2.7 percent to 1.45 zloty.
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