OMV AG price target lowered to EUR 41 from EUR 42 at HSBC

HSBC lowered the firm’s price target on OMV AG (OMVKY) to EUR 41 from EUR 42 and keeps a Hold rating on the shares. The sharp fall in oil prices since early April has raised pressure on oil majors’ financial frameworks, which were designed to work at $70 per barrel oil, the analyst tells investors in a research note. The firm cut estimates for the global integrated oils.